Delta creditors support reorganization plan
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Unofficial results of a Delta Air Lines ballot indicate that most of the carrier's creditors back a Plan of Reorganization, designed to spearhead an emergence from bankruptcy.
Similar numbers also favor a restructuring plan for the Atlanta-based airline's regional operator Comair.
Finalized results will be submitted to the US Bankruptcy Court later this week, as the airline prepares to emerge from the Chapter 11 protection it was forced to seek in September 2005.
"We appreciate our creditors' strong vote of confidence in our plan, which we believe both maximizes their recovery and builds a foundation for Delta's long-term success," said Edward Bastian, Delta's Executive Vice-President and Chief Financial Officer.
"We are looking forward to a strong future as we emerge from bankruptcy later this month, continuing the momentum we have built through our restructuring and returning Delta to its rightful place as an industry leader."
On April 25, the court will pass its judgment on the Plan of Reorganization, potentially paving the way for the airline to officially break free from Chapter 11 protection.
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