Northwest Airlines reported an $8 million profit in April, which will turn out to be its second-to-last month in bankruptcy. The company will emerge officially from Chapter 11 today when the New York Stock Exchange opens with new shares available for trade, ending a 20-month restructuring process in which it slashed annual expenses by $2.5 billion. Its equity value upon emergence is expected to be $6.5-$7.7 billion and it will repay 66%-83% of unsecured claims via new common stock trading ...

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