US Airways chief won’t pursue Delta if it emerges from bankruptcy
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MINNEAPOLIS: Delta Air Lines creditors had better hurry if they want to fly out of Chapter 11 on US Airways. US Airways CEO Doug Parker said his buyout offer expires for good once Delta emerges from bankruptcy protection. The first deadline is midnight Thursday. Parker said that’s the cutoff for Delta creditors to request a delay in a Feb. 7 bankruptcy hearing on the reorganization plan submitted by Delta managers, who are pressing to keep the airline independent. Parker told analysts Tuesday that he would hold Delta creditors to that deadline. US Airways Group Inc. has declined to comment on whether it would make other offers for Delta after that, but Parker was firmer in stating that he would not pursue Delta after it emerges from bankruptcy. “We’ve got a company to run,” he said in a conference call where he also discussed US Airway’s earnings report. “We’re not going to keep chasing this thing, even though we’ve got a bunch of people telling us we should.” Also Tuesday, the chief executive of Northwest Airlines said no plans are in place to merge that airline either in bankruptcy or later this year once it emerges. |