NEW YORK — After almost two years and 6,000 job cuts, Delta Air Lines yesterday got the OK to emerge from bankruptcy protection as an independent firm.
On Monday, it plans to be reborn, with new shares, a restructured fleet and lower labor costs, but without the protection from creditors that the court provided.
During its reorganization, the nation's third-largest airline slashed $3 billion in annual costs.
More than 95 percent of creditors voted to endorse the plan for Delta to leave bankruptcy as a stand-alone carrier. *
— Associated Press