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By HARRY R. WEBER
AP Business Writer
ATLANTA (AP) -- Seventeen creditors who hold $2.25 billion in unsecured claims against Delta Air Lines Inc. in its bankruptcy case urged the carrier Friday to consider alternatives to its stand-alone reorganization plan.
The creditors, who are part of an unofficial committee of unsecured claimholders, said they appreciate "the progress Delta has made thus far in its restructuring efforts and looks forward to analyzing carefully and discussing with Delta the proposed plan and the assumptions upon which it is based."
But, they added in a statement, that the unofficial committee "expects Delta to consider methodically, proactively and fairly strategic alternatives to its proposed stand-alone Chapter 11 plan to ensure that creditor recoveries are maximized in the Chapter 11 process."
The statement said the unofficial committee consists of 17 members that hold unsecured notes, unsecured deficiency claims relating to aircraft equipment leasing arrangements and other unsecured claims totaling more than $2.25 billion of unsecured claims against Delta.
A spokesman for the committee, Todd Miller, could not immediately say what percentage of the total amount of Delta's unsecured claims the unofficial committee represents.
That committee is separate from the official committee of unsecured creditors in Delta's bankruptcy case that has a key role in deciding Delta's fate.
The official committee has said it supports Delta's decision to file its stand-alone reorganization plan on Tuesday, but will also weigh alternatives.
Other creditors, such as those on the unofficial committee, could put pressure on larger creditors to force Delta's hands. It remains to be seen how that will all play out.
US Airways' chief executive issued a scathing rebuke Thursday of Delta's stand-alone reorganization plan and said he is more determined than ever to push ahead with his company's hostile bid to buy Delta.
Delta shot back that it hasn't changed its position that it wants to remain independent, intensifying the war of words that started when Tempe, Ariz.-based US Airways Group Inc. disclosed its $8.4 billion offer to buy Atlanta-based Delta on Nov. 15.
As Christmas approached, US Airways CEO Doug Parker made it clear his company isn't going to back down.
(Copyright 2006 by The Associated Press. All Rights Reserved.)
