If Granted, Second Request Would Extend Deadline To Nov. 8

Remember when you were in college, and you asked your professor for "just a little more time" to wrap up that term paper you were supposed to hand in? Well, management for Delta Air Lines can perhaps relate to that... as the nation's third-largest airline has once again asked for "just a little more time" in filing its reorganization plan with the US bankruptcy court.

"The debtors seek these extensions to avoid the necessity of having to formulate a plan of reorganization prematurely and to ensure that their plan of reorganization best addresses the interests of the debtors, their employees, creditors and estates," Delta said in its request, filed with the court Wednesday.

The airline's request for a four-month extension comes after a similar six-month delay was granted earlier this year. Delta had been scheduled to submit its reorganization plan on July 11.

"We believe another extension is necessary and appropriate, and are pleased it has the support of the creditors committee," said Delta spokeswoman Chris Kelly, adding such delays are common in bankruptcy cases involving large corporations.

In particular, Delta told the court it needed more time to review its pension plan obligations -- and its intent to terminate the current plan with its pilots, according to the Associated Press. Retiree health benefits and continued restructuring efforts are also sticking points.

If the delay is approved, Delta would have until November 8 to exclusively file its plan for reorganization. Creditors would have until January 8, 2007 to comment on the plan.

The exclusivity period allows a bankrupt company to file its own reorganization plan, before creditors can weigh in.

Delta filed for bankruptcy protection last September.

FMI: www.delta.com