|
ATLANTA (AP) - Delta Air Lines Inc. said Monday that it has won approval for a lower interest rate from lenders of its $1.9 billion debtor-in-possession financing, saving the company $30 million a year.
The loans are designed to allow Delta to meet its business expenses while it is under Chapter 11 bankruptcy protection. Delta, which operates the nation's third-largest airline, filed for Chapter 11 bankruptcy protection in September.
Delta officials said the arrangement also will result in a lower interest in its post-petition financing from American Express Travel Related Services Co.
|