Delta and Northwest to go into Chapter11 next month

August 2, 2005: 7:20 AM EDT

NEW YORK (CNN/Money) – Delta Air Lines and Northwest Airlines could be tipped to filing for bankruptcy protections in September in order to be covered by an existing bankruptcy law rather than more restrictive legislation that will take effect in October, according to a published report.

The Washington Post, citing bankruptcy experts and airline insiders, reported Tuesday that a filing by both companies is likely in mid-September. It reported the airlines are expected to delay any action until after the Labor Day weekend to avoid distressing employees during the busy summer travel period.”

whole story at:
http://money.cnn.com/2005/08/02/new…uptcy/index.htm