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ATLANTA (AP) -- U-S Airways Group Chief Executive Doug Parker was noncommittal today on whether his company would be willing to increase its bid to buy Delta Air Lines.
The current offer is valued at more than 10 (B) billion dollars.
Parker says Delta's official committee of unsecured creditors -- which will play a key role in deciding whether any merger agreement would move forward -- has NOT indicated that it wants U-S Airways to offer more money.
A February bankruptcy court hearing in New York has been scheduled to discuss the disclosure statement to Delta's reorganization plan. The plan calls for the Atlanta-based airline to emerge from Chapter eleven bankruptcy protection by the middle of this year as a standalone carrier.
Delta has a hub in Salt Lake City, where there is opposition to the takeover bid from U-S Airways. There are Utah concerns that U-S Airways would eliminate the hub in a merger because it already has hubs in Las Vegas and Phoenix. U-S Airways has said it would not.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
