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Delta and Northwest seek bankruptcy protection Delta Air Lines and Northwest Airlines filed for bankruptcy, meaning that four of the Big Six US legacy carriers currently are restructuring under Chapter 11 protection. Both airlines said they will maintain their full schedules as they cited the impact of soaring fuel prices since Hurricane Katrina as the immediate cause of the filings. Each previously had warned that filings might be necessary owing to impending financial commitments, continuing losses since 2000 and huge pension obligations. Delta cited debts of more than $28 billion, while Northwest owes almost $18 billion. 15 Set 2005 |
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