Horrible state to be in.
How is everyone today, on this, the 31st day of January?
This date is significant, in that tomorrow had been the deadline US Airways had given Delta’s creditor’s committee to get its act together and either allow US Airways to move forward on its merger proposal or not.
According to reports this morning, and confirmed by a US Airways’ official statement about 10 minutes ago, the deal from US Airways is now off the table.
From that release:
“We received word earlier today that Delta’s Official Unsecured Creditors’ Committee would not be able to meet our demands by the Feb. 1, 2007 deadline. As a result, we have withdrawn our offer to merge with Delta Air Lines. While we are disappointed that the Committee has chosen to ignore its fiduciary obligation to Delta’s creditors, we are excited about our future and proud of our team’s performance during this process.”