Delta Air Lines secured $2.5 billion in exit financing from six financial institutions as it plans to emerge from bankruptcy as a standalone carrier in the second quarter. JPMorgan, Lehman Brothers, Merrill Lynch, Goldman Sachs, UBS and Barclays Capital each pledged financing, DL said. The funds will be used to repay the carrier's $2.1 billion debtor-in-possession credit facilities, make payments required upon exit and increase its cash balance.
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