Northwest Airlines plans to emerge from Chapter 11 as an independent company in the second quarter and to eliminate unsecured debt by paying unsecured creditors with common stock in the reorganized carrier, according to its reorganization plan filed Friday. NWA was given an extension to Feb. 15 by the US Bankruptcy Court to file a statement of disclosure, in which the company will detail its reorganization plan publicly. Friday's filing and an accompanying statement, which outlined only the ...

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