8.01 Other Events
November 1, 2005, the Registrant filed with the U.S. Bankruptcy Court for
Southern District of New York a Motion to Reject ALPA Collective Bargaining
Agreement (the “Motion to Reject”) pursuant to Section 1113 of the U.S.
Bankruptcy Code. The Motion to Reject was supported by certain papers including
the Second Declaration of Edward H. Bastian in Support of Motion to Reject
Collective Bargaining Agreement (the “Bastian Second Declaration”).
Bastain Second Declaration contains certain forward looking information.
copy of the Bastian Second Declaration is attached hereto as exhibit 99.1.
Motion to Reject and other supporting papers are available at www.deltadocket.com.
to this Form 8-K that are not historical facts, including statements regarding
our estimates, expectations, beliefs, intentions, projections or strategies
the future, may be “forward-looking statements” as defined in the Private
Securities Litigation Reform Act of 1995. All forward-looking statements
a number of risks and uncertainties that could cause actual results to
materially from the estimates, expectations, beliefs, intentions, projections
and strategies reflected in or suggested by the forward-looking statements.
These risks and uncertainties include, but are not limited to, the actions
decisions of our creditors and other third parties with interests in our
11 proceedings; our ability to obtain and maintain any necessary financing
operations and other purposes, whether debtor-in-possession financing or
financing; our ability to continue as a going concern; our ability to obtain
court approval with respect to motions in the Chapter 11 proceedings prosecuted
from time to time; our ability to develop, prosecute, confirm and consummate
or more Plans of Reorganization with respect to the Chapter 11 proceedings
to consummate all of the transactions contemplated by one or more such
Reorganization or upon which consummation of such plans may be conditioned;
risks associated with third parties seeking and obtaining court approval
terminate or shorten the exclusivity period for us to propose and confirm
more Plans of Reorganization, to appoint a Chapter 11 trustee or to convert
cases to Chapter 7 cases; our ability to obtain and maintain normal terms
vendors and service providers; our ability to maintain contracts that are
critical to our operations; the potential adverse impact of the Chapter
proceedings on our liquidity or results of operations; our ability to maintain
adequate liquidity to fund and execute our business plan during the Chapter
proceedings and in the context of a Plan of Reorganization and thereafter;
effect of a significant reserve or holdback under our credit card processing
agreements; our ability to comply with financial covenants in our financing
agreements; our debt and pension plan funding obligations; the cost of
fuel; pilot early retirements; interruptions or disruptions in service
at one of
our hub airports; our increasing dependence on technology in our operations;
labor issues; restructurings by competitors; the effects of terrorist attacks;
and competitive conditions in the airline industry. Additional
concerning risks and uncertainties that could cause differences between
results and forward-looking statements is contained in Delta’s Securities and
Exchange Commission filings, including its Form 10-Q, filed with the Commission
on August 15, 2005. The risks and uncertainties and the terms of any
reorganization plan ultimately confirmed can affect the value of our various
pre-petition liabilities, common stock and/or other securities. No assurance
be given as to what values, if any, will be ascribed in the bankruptcy
proceedings to each of these constituencies. A plan of reorganization could
result in holders of our liabilities and/or securities receiving no value
their interests. Because of such possibilities, the value of these liabilities
and/or securities is highly speculative. Accordingly, we urge that caution
exercised with respect to existing and future investments in any of these
liabilities and/or securities. Investors and other interested parties can
information about Delta’s Chapter 11 filing on the Internet at
delta.com/restructure. Court filings and claims information are available
deltadocket.com. Caution should be taken not to place undue reliance on
forward-looking statements, which represent Delta’s views only as of November 1,
2005, and which Delta has no current intention to update.
9.01 Financial Statements and Exhibits
99.1-- Second Declaration of Edward H. Bastian in Support of Motion to Reject
ALPA Collective Bargaining Agreement, as filed with the U. S. Bankruptcy
for the Southern District of New York on November 1, 2005.
to the requirements of the Securities Exchange Act of 1934, the registrant
duly caused this report to be signed on its behalf by the undersigned hereunto
AIR LINES, INC.
November 2, 2005
Vice President and Chief Financial