Airline debt was down last week across the board as the price of oil shot up to a six-month high of $64 a barrel due to rising tensions in Iran and waning inventories in the U.S. Last Wednesday, Delta Air Lines' notes were off about a 1 1/2 points to around 55 and Northwest Airlines bonds dropped about 2 points to around 87, according to a dealer.
Another dealer said there was activity in Delta's claims although it has plans to emerge from bankruptcy within the next month or two. Northwest's guarantee claims were trading around 80-82 and its non-guarantee claims were around 72-76 last Wednesday, he said. Calls to company spokesmen were not returned.