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Delta and Northwest on verge of bankruptcy filing
Delta Airlines and Northwest Airlines could both file for bankruptcy today.
The airlines are in talks with creditors with Delta understood to have lined up debtor-in-possession financing.
Northwest is thought to be negotiating with Airbus over a finance package that would see the carrier restructure its current orders.
Delta has lost nearly $10 billion since January 2001 and has struggled for years to avoid the bankruptcy court. Sources said it is seeking $650 million in new financing while filing for Chapter 11 should enable its aircraft to keep flying.
The reorganisation plans of the airlines are likely to see both reduce domestic capacity in favour of more profitable international routes although fears were raised that this could lead to over capacity to the US.
Domestic US traffic has been hit from intense competition from low cost carriers Southwest, AirTran and JetBlue.
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