Wed, Jan 24, 2007
While US Airways Hostile Bid Seems To Lose Steam
Creditors at
bankrupt Delta Air Lines, still fearful of a US Airways
hostile takeover bid, have reportedly turned up the heat on a proposed Delta-Northwest
merger, according to the Wall Street Journal.
Meanwhile, the opposition to US Airways' recently upped offer to
buy out Delta is seeing more and more opposition.
A rally held on Tuesday,
January 22 by group made up of Delta pilots, board council members,
retirees, employees and elected officials sought to garner
attention before a scheduled Senate Commerce Committee hearing
scheduled for Wednesday.
Members of the group wanted congressmen to know 104,851 people
have signed a petition opposing US Airways' bid by signing a
statement that read in part, "I oppose US Airways' hostile takeover
bid for Delta Air Lines because it would be bad for everyone. Bad
for consumers -- who want to keep low fares and great service; bad
for small communities and businesses -- who want to keep
competition and growing worldwide access and convenience; and bad
for Delta people - -- who want to keep their jobs and their
hard-earned benefits."
The statement suggests US Airways' defaulted on its pension
obligations to find the money for a hostile takeover bid of
Delta.
Despite the growing
opposition to the merger, US Airways' CEO Doug Parker won't comment
on whether his airline will increase its just-over-$10 billion bid;
already bumped from the airline's original offer of just over $8
billion.
According to an Associated Press report, Parker is counting on
the fact that Delta's unsecured creditor committee -- sure to play
a key role in any merger agreement -- has not indicated it's
looking for more money.
If these reports are accurate, he may be right -- those
creditors may be talking to Northwest instead.
More News
Runway Centerline Lighting Flush centerline lights spaced at 50-foot intervals beginning 75 feet from the landing threshold and extending to within 75 feet of the opposite end of t>[...]
Aero Linx: Air Force Global Strike Command Air Force Global Strike Command, activated August 7, 2009, is a major command with headquarters at Barksdale Air Force Base, Louisiana, i>[...]
Also: Viasat-uAvionix, UL94 Fuel Investigation, AF Materiel Command, NTSB Safety Alert Norges Luftsportforbund chose Aura Aero's little 2-seater in electric trim for their next gli>[...]
Also: USCG Retires MH-65 Dolphins, Irish Aviation Authority, NATCA Warns FAA, Diamond DA42 AD This summer, history enthusiasts will have a unique opportunity to experience World Wa>[...]
Also: Moya Delivery Drone, USMC Drone Pilot, Inversion RAY Reentry Vehicle, RapidFlight UAVOS has recently achieved a significant milestone in public safety and emergency services >[...]