I am rich to night, ten times richer than â€˜Duke, with all his lands, amid military lots, and funded debts
, and bonds, and mortgages
The plan will fully equitize the company's outstanding funded debt
and include fully committed exit financing, strengthening its balance sheet and enhancing financial flexibility going forward.
Prior to filing for Chapter 11, the company's liabilities included approximately $1.1 billion in funded debt
. Upon emergence, the company's funded debt
will be reduced to under $400 million.
Furthermore, Delta's steadfast focus on reducing debt leaves it better positioned than industry peers to weather a likely recovery in fuel costs, according to the report "Delta Air Lines Inc.: Credit Metrics to Withstand Partial Recovery in Fuel Costs." Since 31 December 2009, Delta has reduced its funded debt
by $8.9 billion to $8.3 billion outstanding as of 31 December 2015.