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Delta Bonds Climb On Pension Progress

07 Sep 2006

Delta Air Lines bonds climbed a couple of points last week as the company made progress on terminating its pilot pension plans.

Delta Air Lines bonds climbed a couple of points last week as the company made progress on terminating its pilot pension plans. Delta's '29 notes climbed two to three points to 26 1/2 after the judge overseeing its Chapter 11 restructuring granted approval to terminate its pilot defined benefit pension plan. Delta must now gain approval from the Pension Benefit Guaranty Corp., although the PBGC has objected to the termination, according to a Delta spokeswoman. The company is now in talks with the organization to obtain its approval.

07 Sep 2006