Business
Delta moves to cut debt load
Oct 5, 2010
Atlanta-based Delta Air Lines said Tuesday it has reduced its debt by $750 million, bringing its adjusted net debt to $10 billion by the end of 2012.
But the move will result in a $350 million charge in Delta's September quarter financial results.
Delta said it reduced its debt load by tendering for $300 million of debt, calling $75 million of notes, repurchasing $153 million in debt, buying aircraft off lease and negotiating other relief.
"Delta is taking concrete steps to reduce our debt load to a more sustainable level for the long term," said Paul Jacobson, Delta's senior vice president and treasurer, in a written statement.
About the Author
