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Opening bell signals Delta Air Lines' return to NYSE

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Announcement Companies & Industry
Last Updated : Feb 05 2013 | 1:05 AM IST
MUMBAI, May 3, 2007 "� The Opening Bell of today's stock market signaled the addition of Delta Air Lines' "DAL" stock ticker to the New York Stock Exchange (NYSE) as shares of the company's new common stock began trading. CEO Jerry Grinstein signaled his confidence in the company by purchasing 1,000 shares of new Delta stock.
 
The company is making the initial distribution of its new common stock to unsecured creditors with allowed claims. As part of its previously announced comprehensive compensation program, Delta made its distribution of new common stock to approximately 39,000 noncontract employees.
 
"There is a renewed spirit at Delta that starts with our employees' commitment to outstanding customer service. That energy permeates the company as we remain focused on executing a solid business plan that we expect will deliver great value for all of our stakeholders, including customers, employees, business partners and, of course, our new shareholders," said Edward H. Bastian, Delta's executive vice president and chief financial officer. "We are proud to be continuing our more than 50 year relationship with the New York Stock Exchange at this important moment in Delta's history."
 
Delta emerged from Chapter 11 on April 30, 2007, following a successful 19-month restructuring during which the airline fundamentally transformed its business. The company's Plan of Reorganization was confirmed in an order entered by the U.S. Bankruptcy Court for the Southern District of New York on April 25, 2007. Delta Air Lines, Inc. began trading on the NYSE on April 26 on a when-issued basis under the ticker symbol "DAL.WI". Regular way trading began today under the ticker symbol "DAL".
 
To commemorate Delta's emergence from Chapter 11 and the relisting of its common stock on the NYSE, the company is participating in The Opening and Closing Bell ceremonies with the NYSE. Delta executives this morning rang The Opening Bell from the airline's newly redesigned international check-in lobby at Hartsfield-Jackson Atlanta International Airport. Delta executives, employees, customers and guests also are traveling to New York to ring The Closing Bell from the NYSE bell podium overlooking the trading floor in lower Manhattan.
 
Delta has selected Wells Fargo Bank, N.A. to serve as the transfer agent for its new common stock.

 
 

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First Published: May 03 2007 | 12:00 AM IST

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