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    Delta Air Lines Inc. (NEW) - 30.04.07: NEUE AKTIEN - End of Chapter 11 - 500 Beiträge pro Seite

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      Avatar
      schrieb am 29.04.07 00:26:46
      Beitrag Nr. 1 ()
      Am Montag, 30.04., verläßt Delta Air Lines - bekanntermaßen eine der weltgrößten Fluglinien der Welt - das Chapter 11 (Sanierungsverfahren nach U.S. Bankruptcy Law).

      Wie bereits im Thread zu den Altaktien (Symbol: DALRQ) vielfach erläutert, werden die Altaktien mit Beendigung des Chapter-11-Verfahrens wertlos, da diese haftendes Eigenkapital sind (man beachte dagegen die positive Entwicklung der Delta-Anleihen = Fremdkapital). Es wurde mehrmals vor dem Handeln in diesen Altaktien gewarnt.

      Es werden neue Aktien ausgegeben, diese sind an der NYSE unter dem Symbol DALWI am Freitagabend bereits gehandelt worden, Höchstkurs 23,25 $, Schlusskurs 20,91 $. Delta Air (NEW) notiert also nicht mehr als Pink Sheet OTC (over-the-counter), sondern als ganz normaler NYSE-Wert.

      Dieser Thread soll zum Austausch für die Neueinschätzung der neuen Aktien dienen.

      Erst einmal noch einmal die letzten Meldungen zur Altaktie (DALRQ):

      Delta Closer to Rebirth

      By TSC Staff
      4/26/2007 11:51 AM EDT

      The Trading Institute
      Bank of America

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      A New York bankruptcy court has issued a ruling confirming Delta's (DALRQ - Cramer's Take - Stockpickr) plan of reorganization, clearing the way for the airline to leave Chapter 11 later this month.
      Delta expects its plan to become effective on April 30, once all closing conditions of the plan have been met and the company's $2.5 billion in exit financing has closed.

      The Atlanta-based carrier filed for bankruptcy in September 2005. Delta's common stock has been approved for listing on the New York Stock Exchange under the ticker symbol "DAL," the same ticker it had before it sought protection from its creditors.

      Current holders of Delta's stock, which trades over the counter, won't get anything through the reorganization plan. The existing shares will be cancelled and rendered worthless.



      Und von Delta's Website:

      Delta's Restructuring
      Delta and our subsidiaries1 voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code on September 14, 2005. Since then, we have undertaken a fundamental transformation of our business, with the aim to achieve $3 billion in annual financial improvements by the end of 2007.

      After making considerable progress in the restructuring process, we are on track to emerge from Chapter 11 this spring as a strong, competitive global carrier. On April 18, Delta creditors’ overwhelmingly supported the company’s Plan of Reorganization. More than 95 percent of the ballots cast and claims value voting were in favor of the plan. The Bankruptcy Court entered an order confirming Delta’s Plan of Reorganization on April 25, 2007, clearing the way for the airline’s planned emergence from Chapter 11 on April 30, 2007.

      We have also made enormous progress in transforming our airline into a strong, healthy, and independent global carrier. At the end of 2006, we had achieved our $3 billion goal, one year ahead of schedule, and had $2.6 billion of unrestricted cash equivalents and short-term investments. At the same time, we made great strides in customer service and product improvements, even as we implemented the largest international expansion in our history, with more than 50 new international routes. Customer satisfaction levels are now among the highest of the network carriers.
      Avatar
      schrieb am 29.04.07 00:47:05
      Beitrag Nr. 2 ()
      Zur Beurteilung der neuen Aktien unter dem Symbol DALWI ein paar aktuelle Zahlen und Fakten zum operativen Geschäft:


      Delta Air Lines Reports $155 Million Operating Profit for March 2007 Quarter

      ATLANTA, April 23, 2007 (PRIME NEWSWIRE) -- Delta Air Lines (Other OTC:DALRQ) today reported results for the quarter ended March 31, 2007. Key points include:



      * Delta's operating profit for the March 2007 quarter was $155
      million, the company's fourth consecutive quarterly operating
      profit.

      * Delta's first quarter net loss was $130 million. Excluding
      reorganization items, the net loss was $6 million. 1,2

      * On April 16, 2007, Delta announced its creditors overwhelmingly
      support the company's plan of reorganization, with more than 95
      percent of ballots cast in favor of the plan.

      * As of March 31, 2007, Delta had $4.0 billion in cash, cash
      equivalents and short-term investments, of which $2.9 billion was
      unrestricted.

      Delta reported a net loss of $130 million in the first quarter of 2007, compared to a net loss of $2.1 billion in the first quarter of 2006. Excluding the reorganization and special items described below, the net loss was $6 million in the first quarter of 2007, a $350 million improvement compared to the net loss of $356 million in the first quarter of 2006. For the March 2007 quarter, Delta's operating income was $155 million and its operating margin was 3.7 percent -- an improvement of more than 8 points over the prior year period, excluding special items.

      "The past 18 months have been challenging times and Delta people rose to that challenge. As these results show, much more has been done than improving our financial structure. Delta has fundamentally transformed into a thriving industry leader," said Gerald Grinstein, Delta's chief executive officer. "We are stronger -- financially, operationally, and in spirit -- and Delta is ready to return to its traditional leadership position in this highly competitive industry."

      Financial Performance

      Strong passenger demand, combined with Delta's network restructuring and revenue management initiatives, drove improvements in the company's revenue performance, with revenue strength seen in all geographic markets. Delta's total international passenger unit revenue (PRASM) grew 6.4 percent year over year excluding special items, with the Latin and trans-Atlantic markets each seeing greater than 5 percent PRASM improvement on 32 and 22 percent capacity increases, respectively. Domestic markets also showed solid PRASM performance, with domestic PRASM up 6.3 percent excluding special items on 5.4 percent lower capacity. With the change in mix of domestic and international flying, Delta's consolidated PRASM increased 4.5 percent in the March 2007 quarter compared to the same period in 2006, excluding special items.

      Delta's length of haul adjusted PRASM increased 6.1 percent for the first quarter 2007 versus first quarter 2006. This increase was 4 points higher than the industry average PRASM (excluding Delta) increase of 2.1% over the same period.

      Additionally, Delta continued to generate cost reductions from its restructuring. For the March 2007 quarter, Delta's operating expenses decreased 2.3 percent, or $94 million, despite a 2.0 percent increase in capacity, compared to the March 2006 quarter, excluding special items. For the same period, non-operating expenses decreased 20.3 percent, or $41 million, due to lower interest expense from lower debt levels and mark-to-market gains on fuel hedges. Delta's mainline unit costs in the first quarter of 2007 decreased by 6.3 percent compared to the first quarter of 2006, excluding special items. Excluding fuel(3) and special items, mainline unit costs decreased 8.7 percent over the prior year period.

      Delta's March quarter 2006 results included $1.7 billion in non-cash charges for reorganization and special items. Including those items, March 2007 quarter PRASM increased 7.1 percent, operating expenses decreased 5.1 percent (or $215 million), and mainline unit costs decreased 9.8 percent, as compared to the March 2006 quarter.

      At March 31, 2007, Delta had $4.0 billion in cash, cash equivalents and short-term investments, of which $2.9 billion was unrestricted. During the March 2007 quarter, Delta generated $461 million in free cash flow, after a $50 million contribution to its defined benefit pension plan and more than $150 million in capital expenditures to reinvest in its business.

      "Our financial performance this quarter -- both operating margin improvement and liquidity -- exceeded expectations under our plan," said Edward H. Bastian, Delta's executive vice president and chief financial officer. "As we emerge from bankruptcy, we are well positioned to build on the momentum of our restructuring with best-in-class costs, improving revenue performance, a strong balance sheet, and the premiere workforce in the industry."

      Operational Performance

      In the March 2007 quarter, despite severe weather in the Northeast, Delta employees worked together to deliver a DOT on time arrival rate of 78.1 percent and completion factor of 98.0 percent for the quarter. Delta employees earned Shared Reward payments in the quarter in recognition of the strong performance in on time arrival rate and completion factor, as well as customer satisfaction.

      "In overcoming the weather challenges this quarter, Delta people stepped to the plate to deliver both industry leading operational performance and the highest level of service to our customers," said Jim Whitehurst, Delta's chief operating officer. "As part of our customer service commitment this year, we will continue to improve our facilities, technology and processes to ensure we deliver an even better travel experience."

      Fuel Hedging

      Delta recorded $18 million in net charges for settled fuel hedge contracts for the March 2007 quarter. These charges are reflected in aircraft fuel expense. In addition, in the March 2007 quarter, the company recorded $24 million in gains associated with the ineffective portion of fuel hedges in other expense (income).



      Delta's hedge position as of April 18, 2007:

      ---------------------------------------------------------------------
      Percent Hedged Average Cap Average Floor
      ---------------------------------------------------------------------
      Q2 2007 48% $1.91 $1.71
      ---------------------------------------------------------------------
      Q3 2007 21% $1.94 $1.76
      ---------------------------------------------------------------------

      Restructuring Progress

      On Feb. 7, 2007, the Bankruptcy Court, with no creditors objecting, approved Delta's Disclosure Statement and authorized the company to begin soliciting approval from its creditors for the Plan of Reorganization. The unofficial vote tally announced on April 16, 2007, showed overwhelming creditor support with more than 95% of ballots cast in favor, which was confirmed in a filing with the Bankruptcy Court on April 18, 2007. A confirmation hearing for the Bankruptcy Court to consider approval of the Plan of Reorganization has been scheduled for April 25, 2007.

      Reorganization and Special Items

      In the first quarter of 2007, Delta recorded $124 million in charges for reorganization items. These charges relate primarily to allowed general unsecured prepetition claims granted to several contract carriers in Delta's Chapter 11 proceedings in connection with amendments to their contract carrier agreements.

      In the first quarter of 2006, Delta recorded $1.7 billion in charges for reorganization items and accounting adjustments, including (1) a $1.4 billion charge for reorganization items, primarily reflecting estimated pre-petition bankruptcy claims for the restructuring of aircraft financing arrangements and (2) a $310 million net charge for certain accounting adjustments.

      Information Regarding Delta's Current Common Stock

      Holders of Delta's current common stock (ticker symbol DALRQ on the over-the-counter market) will receive no value under Delta's Plan of Reorganization, which is subject to confirmation by the Bankruptcy Court at a hearing on April 25, 2007. The company has recently provided the Depository Trust Corporation the required notice to have the current stock cancelled on April 30, 2007, the assumed effective date for Delta's Plan.

      Other Matters

      Included with this press release are Delta's Consolidated Statements of Operations for the three months ended March 31, 2007; a statistical summary for that period; selected balance sheet data as of March 31, 2007 and Dec. 31, 2006; and a reconciliation of certain GAAP to non-GAAP financial measures. The Consolidated Statements of Operations show Delta's net loss as reported under GAAP, as well as Delta's net loss excluding reorganization and special items.

      About Delta

      Delta Air Lines (Other OTC:DALRQ) offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service to 307 destinations in 52 countries. With more than 60 new international routes added in the last year, Delta is America's fastest growing international airline and is the leader across the Atlantic with flights to 31 trans-Atlantic destinations. To Latin America and the Caribbean, Delta offers more than 600 weekly flights to 58 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on nearly 15,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 456 worldwide destinations in 100 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.

      The Delta Air Lines, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1825

      Endnotes

      1 Note 3 to the attached Consolidated Statements of Operations provides a reconciliation of financial measures based on Generally Accepted Accounting Principles ("GAAP") to related non-GAAP financial measures used in this release and provides the reasons management uses the non-GAAP financial measures.

      2 Reorganization items refers to revenues, expenses, gains or losses that are realized or incurred by us that are due to our reorganization under Chapter 11 of the U.S. Bankruptcy Code. In accordance with GAAP, these items are required to be separately classified in the Consolidated Statements of Operations.

      3 Includes the impact of fuel reflected in the fuel expense line and fuel taxes reflected in other operating expense.

      Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ 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, our ability to prosecute, confirm and consummate our proposed plan of reorganization with respect to the Chapter 11 proceedings; the actions and decisions of our creditors and other third parties with interests in our Chapter 11 proceedings; our ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted from time to time; our ability to obtain and maintain normal terms with vendors and service providers; our ability to maintain contracts that are critical to our operations; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for us to propose and confirm one or more plans of reorganization, to appoint a Chapter 11 trustee or to convert the cases to Chapter 7 cases; the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; restructurings by competitors; the effects of actual or threatened terrorist attacks; and competitive conditions in the airline industry.

      Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta's Securities and Exchange Commission filings, including its Form 10-K for the fiscal year ended December 31, 2006, filed on March 2, 2007.

      Current holders of Delta's equity will not receive any distributions under Delta's proposed Plan of Reorganization. These equity interests will be cancelled upon the effectiveness of the proposed Plan of Reorganization, which we believe will be shortly after the confirmation hearing on April 25, 2007. Accordingly, we urge that caution be exercised with respect to investments in Delta's existing equity securities and any of Delta's liabilities and other securities. Investors and other interested parties can obtain information about Delta's Chapter 11 filing on the Internet at delta.com/restructure. Court filings, claims information and our proposed Plan of Reorganization are available at deltadocket.com. Caution should be taken not to place undue reliance on Delta's forward-looking statements, which represent Delta's views only as of April 23, 2007, and which Delta has no current intention to update.
      Avatar
      schrieb am 29.04.07 00:57:11
      Beitrag Nr. 3 ()
      Antwort auf Beitrag Nr.: 29.052.356 von ambodenstaendig am 29.04.07 00:26:46
      Zur Beurteilung der neuen Aktien unter dem Symbol DALWI hier aktuelle Zahlen & Fakten zum operativen Geschäft:

      Delta Air Lines Reports $155 Million Operating Profit for March 2007 Quarter

      ATLANTA, April 23, 2007 (PRIME NEWSWIRE) -- Delta Air Lines (Other OTC:DALRQ) today reported results for the quarter ended March 31, 2007. Key points include:

      * Delta's operating profit for the March 2007 quarter was $155
      million, the company's fourth consecutive quarterly operating
      profit.

      * Delta's first quarter net loss was $130 million. Excluding
      reorganization items, the net loss was $6 million. 1,2

      * On April 16, 2007, Delta announced its creditors overwhelmingly
      support the company's plan of reorganization, with more than 95
      percent of ballots cast in favor of the plan.

      * As of March 31, 2007, Delta had $4.0 billion in cash, cash
      equivalents and short-term investments, of which $2.9 billion
      was unrestricted.

      Delta reported a net loss of $130 million in the first quarter of 2007, compared to a net loss of $2.1 billion in the first quarter of 2006. Excluding the reorganization and special items described below, the net loss was $6 million in the first quarter of 2007, a $350 million improvement compared to the net loss of $356 million in the first quarter of 2006. For the March 2007 quarter, Delta's operating income was $155 million and its operating margin was 3.7 percent -- an improvement of more than 8 points over the prior year period, excluding special items.

      "The past 18 months have been challenging times and Delta people rose to that challenge. As these results show, much more has been done than improving our financial structure. Delta has fundamentally transformed into a thriving industry leader," said Gerald Grinstein, Delta's chief executive officer. "We are stronger -- financially, operationally, and in spirit -- and Delta is ready to return to its traditional leadership position in this highly competitive industry."

      Financial Performance

      Strong passenger demand, combined with Delta's network restructuring and revenue management initiatives, drove improvements in the company's revenue performance, with revenue strength seen in all geographic markets. Delta's total international passenger unit revenue (PRASM) grew 6.4 percent year over year excluding special items, with the Latin and trans-Atlantic markets each seeing greater than 5 percent PRASM improvement on 32 and 22 percent capacity increases, respectively. Domestic markets also showed solid PRASM performance, with domestic PRASM up 6.3 percent excluding special items on 5.4 percent lower capacity. With the change in mix of domestic and international flying, Delta's consolidated PRASM increased 4.5 percent in the March 2007 quarter compared to the same period in 2006, excluding special items.

      Delta's length of haul adjusted PRASM increased 6.1 percent for the first quarter 2007 versus first quarter 2006. This increase was 4 points higher than the industry average PRASM (excluding Delta) increase of 2.1% over the same period.

      Additionally, Delta continued to generate cost reductions from its restructuring. For the March 2007 quarter, Delta's operating expenses decreased 2.3 percent, or $94 million, despite a 2.0 percent increase in capacity, compared to the March 2006 quarter, excluding special items. For the same period, non-operating expenses decreased 20.3 percent, or $41 million, due to lower interest expense from lower debt levels and mark-to-market gains on fuel hedges. Delta's mainline unit costs in the first quarter of 2007 decreased by 6.3 percent compared to the first quarter of 2006, excluding special items. Excluding fuel(3) and special items, mainline unit costs decreased 8.7 percent over the prior year period.

      Delta's March quarter 2006 results included $1.7 billion in non-cash charges for reorganization and special items. Including those items, March 2007 quarter PRASM increased 7.1 percent, operating expenses decreased 5.1 percent (or $215 million), and mainline unit costs decreased 9.8 percent, as compared to the March 2006 quarter.

      At March 31, 2007, Delta had $4.0 billion in cash, cash equivalents and short-term investments, of which $2.9 billion was unrestricted. During the March 2007 quarter, Delta generated $461 million in free cash flow, after a $50 million contribution to its defined benefit pension plan and more than $150 million in capital expenditures to reinvest in its business.

      "Our financial performance this quarter -- both operating margin improvement and liquidity -- exceeded expectations under our plan," said Edward H. Bastian, Delta's executive vice president and chief financial officer. "As we emerge from bankruptcy, we are well positioned to build on the momentum of our restructuring with best-in-class costs, improving revenue performance, a strong balance sheet, and the premiere workforce in the industry."

      Operational Performance

      In the March 2007 quarter, despite severe weather in the Northeast, Delta employees worked together to deliver a DOT on time arrival rate of 78.1 percent and completion factor of 98.0 percent for the quarter. Delta employees earned Shared Reward payments in the quarter in recognition of the strong performance in on time arrival rate and completion factor, as well as customer satisfaction.

      "In overcoming the weather challenges this quarter, Delta people stepped to the plate to deliver both industry leading operational performance and the highest level of service to our customers," said Jim Whitehurst, Delta's chief operating officer. "As part of our customer service commitment this year, we will continue to improve our facilities, technology and processes to ensure we deliver an even better travel experience."

      Fuel Hedging

      [...]

      Delta's hedge position as of April 18, 2007:

      ---------------------------------------------------------------------
      Percent Hedged Average Cap Average Floor
      ---------------------------------------------------------------------
      Q2 2007 48% $1.91 $1.71
      ---------------------------------------------------------------------
      Q3 2007 21% $1.94 $1.76
      ---------------------------------------------------------------------

      Restructuring Progress

      On Feb. 7, 2007, the Bankruptcy Court, with no creditors objecting, approved Delta's Disclosure Statement and authorized the company to begin soliciting approval from its creditors for the Plan of Reorganization. The unofficial vote tally announced on April 16, 2007, showed overwhelming creditor support with more than 95% of ballots cast in favor, which was confirmed in a filing with the Bankruptcy Court on April 18, 2007. A confirmation hearing for the Bankruptcy Court to consider approval of the Plan of Reorganization has been scheduled for April 25, 2007.

      Reorganization and Special Items

      [...]

      Information Regarding Delta's Current Common Stock
      (betr. Altaktien)

      Holders of Delta's current common stock (ticker symbol DALRQ on the over-the-counter market) will receive no value under Delta's Plan of Reorganization, which is subject to confirmation by the Bankruptcy Court at a hearing on April 25, 2007. The company has recently provided the Depository Trust Corporation the required notice to have the current stock cancelled on April 30, 2007, the assumed effective date for Delta's Plan.

      [...]


      Avatar
      schrieb am 29.04.07 00:59:48
      Beitrag Nr. 4 ()
      Nochmals zum operativen Geschäft eine Meinung:

      Delta's Revenue Rises as End of Chapter 11 Nears

      By Ted Reed
      TheStreet.com Staff Reporter
      4/23/2007 4:18 PM EDT

      Days before emerging from 19 months in bankruptcy and relisting its stock, Delta Air Lines (DALRQ - Cramer's Take - Stockpickr) is riding a crest of both domestic and international growth.
      The carrier will likely emerge with the second-highest market capitalization in the airline industry, and with estimated pretax income of roughly $800 million in its first year back, CEO Jerry Grinstein said Monday, on a quarterly conference call Monday. "There is very little history of a company exiting bankruptcy and expecting to post results like this right out of the gate," Grinstein said.

      Delta said its first-quarter net loss, excluding one-time and reorganization items, was $6 million, compared with a net loss of $356 million in the same quarter a year earlier. It said domestic passenger revenue per available seat mile (PRASM) grew 6.3%, while international PRASM grew 6.4%.

      On the domestic side, Delta far exceeded the RASM growth reported last week by American (AMR - Cramer's Take - Stockpickr - Rating), Continental (CAL - Cramer's Take - Stockpickr - Rating) and Southwest (LUV - Cramer's Take - Stockpickr - Rating). Southwest was highest, at 1.4%. "Our demand for domestic is incredibly strong for the summer, but we hear everybody else saying it's down," said Glen Hauenstein, executive vice president. "Every day we look and say, 'Why are we living in this parallel universe?'"

      One reason, he said, is that Delta shrank domestic capacity, down 5.4% in the quarter. Also, it has hubs in the fast-growing Southeast and Mountain West. "We are in the right places [and also] are really building a network we are proud of in New York," said COO Jim Whitehurst.

      Delta's Revenue Rises as End of Chapter 11 Nears
      Page 2









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      Internationally, Delta RASM growth trailed double-digit growth at American and Continental. But Hauenstein noted that Delta added various international routes last summer and that "the spool up for international is a little bit longer than for domestic." He said unit revenue acceleration will increase going forward.
      Delta is not worried about a slowdown in international growth because of its diversification, Whitehurst said. Growth to Europe is almost flat, he said, while flights are being added to the Middle East, Africa and Asia. "We're growing in areas where there is not a lot of service today," he said.

      In growing internationally, Delta continues to benefit from operating the world's biggest hub, in Atlanta, where it offers about 1,000 daily departures. Competition is limited, Whitehurst said, because "if you don't have an East Coast hub, it's hard to do things like the EC and Africa." Among the locational advantages: The top connecting markets for Delta's Atlanta-Tokyo flight are Lima and Sao Paulo.

      For the first quarter, after accounting for all items, Delta had a net loss of $130 million, compared with a net loss of $2.1 billion a year earlier. It reported an operating profit of $155 million, its fourth consecutive quarterly operating profit.

      On the cost side, mainline cost per available seat mile declined by 8.7% to 7.06 cents, excluding fuel and special items. Delta's plan of reorganization is scheduled to be heard in bankruptcy court on Wednesday, and its existing stock is expected to be canceled a few days later.
      Avatar
      schrieb am 02.05.07 01:25:41
      Beitrag Nr. 5 ()
      Wer es ganz genau wissen will, die neuen Aktien sind offiziell noch nicht ausgegeben, werden aber an der NYSE bereits auf einer "if so"-Basis, "als wäre wenn"-Basis gehandelt unter eben dem Symbol DALWI bzw DAL.WI, nach offizieller Ausgabe werden die neuen Aktien unter dem ganz natürlichen Symbol DAL gehandelt.

      Deshalb werden auch noch keine ADR's (unter neuer WKN) in Deutschland gehandelt.

      Das ist also des Rätsels Lösung für den Übergang.

      Siehe:

      (Quelle: www.nasdaq.com unter company news)

      Delta Done With Bankruptcy Stint

      By Ted Reed
      TheStreet.com Staff Reporter
      4/30/2007 1:35 PM EDT

      Delta Air Lines (DALRQ - Cramer's Take - Stockpickr) has officially ended its 19-month stay in bankruptcy, saying it has cut enough costs and changed its business in a manner that will allow it to succeed financially and operationally.
      Shares of Delta began trading Monday on what's known as a "when issued" basis, meaning the stock has been authorized but not yet issued. The airline is preparing to issue 400 million new shares on Thursday. At midday, the when-issued stock was at $20.37 on the New York Stock Exchange.

      The stock has an exchange specialist, meets listing standards and has been certified by the Securities and Exchange Commission, said an NYSE spokesman. However, at the moment, trading is geared toward institutions or large brokerage firms due to complicated settlement provisions, the spokesman said.

      Delta has said it will issue new shares to bankruptcy creditors (Anm. abs: also nur die Gläubiger, nicht die Altaktionäre) and employees as part of its post-Chapter 11 compensation program. Delta will begin wide trading under the symbol "DAL," its ticker before it began bankruptcy, later this week.

      The shares that traded on the over-the-counter Bulletin Board will no longer have any value.

      "Through our restructuring we have successfully repaired our balance sheet, improved the customer experience, expanded our international route system and built a platform for future success," said Delta Chief Executive Gerald Grinstein in a statement. "Delta is now a fierce competitor in a tough industry, and we are confident that we will reclaim our rightful place as an industry leader."

      Grinstein, who plans to vacate his post after the airline's board names a successor, also said that emergence from bankruptcy "is not the end of a journey; instead, it is the beginning of a new and prosperous era at Delta."
      In a recent research report, Prudential airline analyst Bob McAdoo said that Delta's new stock may face a decline early in its existence.

      "With 400 million new shares coming to the market, the when-issued shares and soon the new DAL, shares are likely to trade near $15 rather than at the current [price] ," he wrote. "As such, we would encourage selling the when-issued shares, and the new Delta common, unless valuations drop toward $15."

      McAdoo added that he didn't mean "to indicate that we feel new DAL will never reach $23 to $25 in the next 12 months," but rather to say the current price would represent a substantial premium over other legacy airlines.

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      Avatar
      schrieb am 03.05.07 18:16:40
      Beitrag Nr. 6 ()
      Seit heute wird Delta Air Lines Inc. (NEW) nicht mehr nur unter dem Übergangssymbol DAL.WI ausserbörslich gehandelt,

      sondern ganz offiziell unter dem neuen Symbol DAL.

      www.nyse.com oder www.nasdaq.com

      Mal sehen, bald müssten wir auch handelbare ADR's in Deutschland unter neuer WKN haben.

      Eine neue Ära beginnt!

      Zuletzt allerdings zu etlichen Fluggesellschaften in Amerika negative Analystenkommentare, zu Delta aber positivere Einschätzungen. Warte aber erst mal lieber ab, bis die neuen Aktien sich eingependelt haben.

      Grüsse,

      abs
      Avatar
      schrieb am 04.05.07 17:54:46
      Beitrag Nr. 7 ()
      A0MQV8

      ist das die neue WKN ?
      Avatar
      schrieb am 04.05.07 21:57:31
      Beitrag Nr. 8 ()
      Antwort auf Beitrag Nr.: 29.136.110 von Euwaxtrader am 04.05.07 17:54:46Hier bei wo haben sie immer noch den außerbörslich notierten "Vorläufer" DAL.WI, deshalb ist da (und bleibt wohl) der Schlußkurs vom 02.05. stehen ... :rolleyes::rolleyes:

      Seit gestern, 03.05, ist Delta Air Lines ja unter dem Symbol DAL wieder ganz offiziell an der NYSE notiert und wird eifrig gehandelt, und, JA, Euwaxtrader ;) , es gibt jetzt auch die

      neue WKN für die deutschen ADR's: A0MQV8

      Auf www.onvista.de kann man heute bereits die Kurse einsehen ... :rolleyes::rolleyes: ...670 Stück in Stuttgart zu 15,52 €, in den USA zur Zeit aufwärts 1,4 % auf 21,01 $.

      Also, ab Montag sollte WO das hier dann auch eingerichtet haben, wahrscheinlich können wir dann gleich wieder einen neuen Thread eröffnen und alles rüberkopieren ... :laugh::laugh: :rolleyes::rolleyes:

      Also, ab nächste Woche wieder alles stinknormal ... ;)

      Grüsse,
      abs

      P.S.:
      Aktie entwickelt sich eigentlich bisher ganz gut in Anbetracht der doch eher verhaltenen Analysteneinschätzungen ...
      Avatar
      schrieb am 07.05.07 12:52:37
      Beitrag Nr. 9 ()
      Antwort auf Beitrag Nr.: 29.144.845 von ambodenstaendig am 04.05.07 21:57:31
      Sehr schön, wo hat vom Vorläufer DAL.WI schon mal auf DAL umgestellt;

      bitte noch neue WKN einstellen ! :D

      :cool: abs
      Avatar
      schrieb am 20.05.07 18:24:15
      Beitrag Nr. 10 ()
      Und Ende Mai verlässt auch Northwest Airlines das Insolvenzverfahren Chapter 11, wie immer, gehen die Altaktionäre leer aus, es werden neue emittiert. Ansonsten auch ganz interessanter Artikel im Hinblick auf die Branchenverfassung ;) .

      HANDELSBLATT, Sonntag, 20. Mai 2007, 15:17 Uhr
      US-Fluggesellschaft

      Northwest Airlines entkommt der Insolvenz

      Die amerikanische Fluggesellschaft Northwest Airlines kommt als letzte der großen US-Airlines am 31. Mai saniert aus ihrem Insolvenzverfahren heraus.

      dpa-afx EAGAN. Der zuständige Insolvenzrichter Allan L. Gropper in New York billigte den Northwest-Reorganisationsplan, wie das Unternehmen am Freitag (Ortszeit) mitteilte.
      Zuvor hatten United Airlines, Delta Air Lines und US Airways sowie mehrere kleinere US-Fluggesellschaften Insolvenzverfahren durchgemacht. Die großen traditionellen US-Fluggesellschaften nutzten sie, um die Tarifkosten zu drücken, Stellenstreichungen durchzuführen, Flugzeugleasing-Kosten zu senken und ihre Flotten zu verkleinern und zu modernisieren.

      Die großen traditionellen US-Airlines waren nach den Terroranschlägen vom 11. September 2001 wegen des Einbruchs des Flugverkehrs, der hohen Kosten und der erfolgreichen Konkurrenz von Billigfluggesellschaften wie Southwest Airlines in Schwierigkeiten geraten. Inzwischen läuft das Geschäft wieder viel besser. Die Flugpreise sind deutlich gestiegen, und die Flugzeuge sind wegen der kleineren Flotten viel stärker ausgelastet. Allerdings ist der Konkurrenzkampf im amerikanischen Luftfahrtmarkt weiter brutal, und die hohen Treibstoffkosten machen den Fluggesellschaften schwer zu schaffen.

      NORTHWEST AIRLINES CORP. SHARES DL -,01

      Diskussionen über neue Großfusionen scheinen in der amerikanischen Luftfahrtbranche momentan nicht mehr akut zu sein. Die US Airways hatte 2006 ein Kaufgebot für Delta abgegeben. Es hatte auch Gespräche zwischen United und Continental sowie Northwest Airlines und Delta gegeben. Die US-Branchenführer, zu denen auch Southwest gehört, arbeiten momentan alle im Alleingang weiter.

      Die Northwest Airlines Corporation mit Sitz in Eagan (US- Bundesstaat Minnesota) hatte im September 2005 Gläubigerschutz beantragt. Das Unternehmen habe seine Ziele erreicht und habe eine konkurrenzfähige Kostenstruktur, ein effizienteres Geschäftsmodell und eine stärkere Bilanz, betonte Konzernchef Doug Steenland. Die Gewerkschaften hatten sich wegen der hohen Zahlungszusagen für mehrere hundert Northwest-Spitzenmanager in Form von neuen Aktien der Gesellschaft gegen den Reorganisationsplan gewehrt. Er wurde aber mit überwältigender Mehrheit der Gläubiger gebilligt. Die Northwest-Aktien Die Altaktionäre gehen völlig leer aus.werden an der New Yorker Börse Nyse unter dem Aktiensymbol NWA notiert.
      Avatar
      schrieb am 20.05.07 18:38:10
      Beitrag Nr. 11 ()
      Antwort auf Beitrag Nr.: 29.395.837 von ambodenstaendig am 20.05.07 18:24:15Was das so ganz und gar Erstaunliche ist: Obwohl das Ende für die Altaktionäre bei allen Chapter-11-Verfahren, auch bei Sanierung, in 95 % aller Fälle glasklar Null Euro, wurde auch Northwest Airlines Anfang des Jahres noch auf 6-7 € hochgezockt, noch im Februar standen die bei 5 €. Sind jetzt natürlich nur noch bei 1,5 Cents - was natürlich auch zuviel ist, da die Altaktien ja wertlos sind.

      Unfassbar, wie immer stellen sich nur zwei Fragen, eine an die Verlierer, eine an die Gewinner von solchen Insolvenzzocks:

      1. Wie blöd oder unsagbar leichtsinnig sind einige Leute eigentlich ?

      2. Wie unglaublich abgezockt sind einige Leute eigentlich ?

      Und es wiederholt sich immer und immer und immer wieder - genauso wie bei den Zocks um Minen"explorer" oder allgemein bei Kapitalanlagebetrügereien.

      Na ja, eins steht betonfest:
      Der Mensch will grundsätzlich nicht von den Fehlern anderer lernen,
      er macht sie lieber selber noch einmal ...

      Eigentlich müßte man Ch.-11-Werte gnadenlos und systematisch shorten - am Ende gewinnt man damit immer.

      Muß allerdings noch erkunden, ob das bei den Insolvenzwerten noch so einfach geht; ob auch Puts weitergehandelt werden während des Insolvenzverfahrens ? Wäre ja fast zu einfach, man könnte einfach einen Korb aus 10 Puts auf amerikanische Insolvenzwerte bilden, eine oder schlimmstenfalls zwei Nieten, wo mal von der Regel abgewichen wird, könnte man sich locker erlauben ...

      ODER ? :look:

      ;) abs
      Avatar
      schrieb am 22.05.07 07:39:39
      Beitrag Nr. 12 ()
      Antwort auf Beitrag Nr.: 29.395.994 von ambodenstaendig am 20.05.07 18:38:10Hallo Ambodenständig,
      ich glaube nicht, daß die Leute blöd oder leichtsinnig sind! Es liegt mehr an der Unwissenheit. Wenn eine AG saniert wird und man kommt aus der Insolvenz heraus, dann steigen die Aktien normalerweise. In Amerika aber sind diese Aktien einfach wertlos.
      Diese Info wird den Aktionären vielleicht auf englisch gegeben, da aber die Aktien auch in Deutschland gehandelt werden, sollte man solche Infos auch auf deutsch geben, dann hätte ich bestimmt von der Gesellschaft keine Aktien gekauft. Übrigens, der Hinweis, daß die Aktien wertlos werden, kam hier im Forum erst, als es zu spät war.
      Naja, der Schaden ist nicht ganz so groß, aber geärgert habe ich mich trotzdem.
      Avatar
      schrieb am 22.05.07 14:08:06
      Beitrag Nr. 13 ()
      Antwort auf Beitrag Nr.: 29.412.200 von rofino am 22.05.07 07:39:39
      Na ja, aber das ist doch leichtsinnig, leichtfertig, oder ?

      In einen ausländischen Insolvenzwert investieren, obwohl man vom ausländischen Insolvenzrecht keine Ahnung hat und in der ausländischen Rechtssprache keine vertieften Kenntnisse hat ? Sorry, so viel Leichtsinn kann man doch nicht schönreden ... :look:

      Es ist doch ganz einfach:

      Schuster, bleib bei Deinen Leisten !

      Beste Grüsse,
      abs
      Avatar
      schrieb am 22.05.07 14:14:20
      Beitrag Nr. 14 ()
      Antwort auf Beitrag Nr.: 29.412.200 von rofino am 22.05.07 07:39:39
      Der Hinweis, dass die Aktien wertlos wurden, kam im Hauptthread zu Delta (alt) von mir schon in den Beiträgen # 110-140, und zwar sehr ausführlich, sehr detailliert. Insofern stimmt es hier nicht, dass die Hinweise nicht früh genug da waren, sie wurden nur, wie immer, von so und so vielen schlicht nicht beachtet (auch aus Verdrängung).

      Nur hat man mir (oder Pfandbrief oder ...) nicht geglaubt, es ist auch ein running gag, dass noch so qualitativ wertvolle Hinweise als Bashing diffamiert werden, interessanterweise gerade von denen, die dringend Nachhilfe benötigen ... :look::look:

      Hinzu kommt natürlich ein anderer running gag, dass einige bewußt während der Insolvenzphase den Wert kurzfristig zocken und die Unwissenheit anderer auch ausnutzen wollen und an der entsprechenden Aufklärung regelmäßig nicht interessiert sind ... wider besseren Wissens sozusagen ... :look::look:

      Geht eben um Geld.

      Grüsse,
      abs
      Avatar
      schrieb am 02.06.07 21:36:07
      Beitrag Nr. 15 ()
      mal banal gefragt : besitzerdie delta gehalten haben gehen nun mit -0 - nachhaus ?
      obwohl der wert gehandlet wierd !

      da bitte ich um erklaerung ....bitte zuegig und verstaendlich da ich betroffen bin ...meine mail adresse privat ist standard4711@yahoo.de
      Avatar
      schrieb am 18.10.07 10:01:47
      Beitrag Nr. 16 ()
      Es schaut danach aus, dass sich Delta nun vollständig erholt hat. Mit einer Marktkapitalisierung von 3 Mrd. Eur ist sie nur ein Drittel von der Lufthansa wert, wobei Delta 20 % weniger Umsatz macht.
      Avatar
      schrieb am 29.03.08 14:20:25
      Beitrag Nr. 17 ()
      Bei einem weiteren Rückgang der Rohölpreise (aktuell 104,80 USD) dürfte DELTA zu den größten Profiteuren gehören.

      Man sollte sie daher auf jeden Fall genau beobachten.
      Avatar
      schrieb am 02.04.08 12:56:14
      Beitrag Nr. 18 ()
      Antwort auf Beitrag Nr.: 33.757.902 von turnaround69 am 29.03.08 14:20:25ich sehe diese auch als größten profiteur
      falls der ölpreis noch etwas zurück gehen sollten
      ausserdem ist ja mächtig fantasie in dem wert
      was fusionen & weitere kosteneinsparungen betrifft
      Avatar
      schrieb am 02.08.08 20:40:22
      Beitrag Nr. 19 ()
      Antwort auf Beitrag Nr.: 33.787.581 von er39ffm am 02.04.08 12:56:14 und wie solls jetzt weitergehen-wieder chapter 11:confused:

      dann sind die an die Gläubiger ausgeteilten (Neu)Aktien wertlos?
      Avatar
      schrieb am 05.11.08 02:25:14
      Beitrag Nr. 20 ()
      Kann mir einer freundlicherweise sagen, ob die Anleihen eines Unternehmens in USA, die im Chapter 11-Verfahren drin sind nach verlassen von diesem auch wertlos werden? Wäre sehr dankbar für eine aufschlussreiche Erklärung.
      Avatar
      schrieb am 11.11.08 02:45:24
      Beitrag Nr. 21 ()
      Antwort auf Beitrag Nr.: 35.832.458 von arkansel am 05.11.08 02:25:14hallo,

      oder besser hello, anbei Deine Erklärung:
      :look:


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