The American air carrier Delta Air Lines Inc. has refused the offer of competitor US Airways Group, which wished to buy it for 8.3 billion dollars. At the same time, Delta Air Lines has informed details of the project which was made to prevent company’s bankruptcy.
"We believe, that project Delta Air Lines will bring more benefits, than that has offered or can offer US Airways", - Delta Air Lines’ financial director Edward Bastian has told. Moreover Edward Bastian has told, that the five years' business-plan approved by the American bankruptcy court, means, that cost of actives of the company will be from 9.4 billion dollars up to 12 billion dollars.
The project also will provide increase in the company’s net profit up to 1.2 billion dollars in 2010. Such results will be reached by attraction of external investors which will agree to accept liabilities of Delta Air Lines, Edward Bastian has itemized.
On December, 18th American airline US Airways has announced the increase in sum for 100% of shares of the competitor - Delta Air Lines - from 8 up to 8.4 billion dollars. As a result of the deal offered by US Airways, creditors of Delta Air Lines should receive 4 billion dollars in cash and not less than 78.5 million shares of US Airways for the sum about 4 billion dollars. The suggested price is above the sum of Delta Air Lines’ liabilities for 25 %. According to US Airways, as a result of merge would be reached synergetic effect at a rate of 1.65 billion dollars a year. Delta Air Lines since September 2005 is on the verge of bankruptcy. Net losses of the company were 3.84 billion dollars in 2005.
No comments:
Post a Comment