US Airways yesterday raised its takeover offer for bankrupt Delta Air Lines to $10.2 billion, promising DL's unsecured creditors $5 billion in cash and 89.5 million shares of US stock, but the Delta board quickly gave a thumbs-down to the proposal, stating that "it does not address significant concerns. . .raised about the initial US Airways proposal and, in fact, would increase the debt burden of the combined company by yet another $1 billion." Delta said previously that a merged airline ...

Subscribe to Access this Entire Article

"US Airways ups ante for Delta to $10.2 billion; DL board backs standalone plan" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.