DELTA AIR LINES is likely to file for Chapter 11 bankruptcy protection later this year, just before more restrictive bankruptcy laws go into effect, according to news reports from the US. That could mean declaring bankruptcy in mid-September. Delta CEO Gerald Grinstein told employees the airline”s effort to cut $5bn might not be enough to ensure its survival. The airline was preparing to file for bankruptcy last October when its pilots agreed to wage and benefit cuts.
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