But Delta Merger Rumors Fuel Stock Investigation

Beleaguered carrier Northwest Airlines has the time it says it needs to retain exclusive control over its financial future. On Thursday, US Bankruptcy Court Judge Allan Gropper ruled the carrier could have its requested extension until June 30.

In related news, Judge Gropper also ordered a group of hedge funds -- opponents to Northwest's extension request -- to disclose data on trades the funds maintain show Northwest has sought out, or at least expressed interest in, merging with one or more carriers.

As Aero-News reported, the funds fought the extension due to concerns shareholders would be left high and dry under Northwest's in-house restructuring plan, should the bankrupt carrier chose to merge with another airline before, or soon after, exiting bankruptcy.

Judge Gropper allowed the funds a 10-day reprieve while they appealed the matter to another federal court, according to The Associated Press. The judge also delayed ruling on whether to appoint an investigator to look into any possible merger deals being explored.

A loose group of investors has accused Northwest of collusion with its creditors and Delta Air Lines, on a deal to combine forces after the two carriers exit Chapter 11 later this year.

FMI: www.nwa.com, www.delta.com