Airline requests time to reorganize

[question everything]

Airline requests time to reorganize

By Joshua Freed, Associated Press
LA Daily News

MINNEAPOLIS - Northwest Airlines Corp. is asking for more time to file its plan to emerge from bankruptcy. The nation's fourth-largest airline said it hopes to have a plan by the end of 2006.

Northwest had faced a Jan. 12 deadline for filing its own plan for emerging from bankruptcy. Without an extension, bankruptcy law allows Northwest's creditors to come up with their own plan. Northwest called its bankruptcy "among the largest and most complex cases ever filed.".. Northwest said its creditors support a six-month extension with the understanding that it will probably need another extension.

Delta Air Lines Inc. filed for its own bankruptcy extension on Dec. 22, and Northwest said that day that it intended to seek an extension. Both airlines filed for bankruptcy protection on Sept. 14.

(snip)

http://www.dailynews.com/business/ci_3368706

[GrumpyGreg]

1. I always find it disconcerting to fly on an airline that has no money.

Maybe it's just me being silly.