Hurricane Katrina dealt airline companies a blow by causing fuel prices to skyrocket. Investors believed certain airlines would not be able to avoid bankruptcy, including Delta Air Lines and Northwest Airlines. [Both airlines filed for bankruptcy the same day last September. Delta tapped GE Commercial Finance for a $1.7 billion debtor-in-possession financing in September 2005 and Northwest entered into a $1.225 billion DIP at the beginning of August with Citigroup, JPMorgan and Deutsche Bank.]
One Year Ago In The Credit Markets
