Delta gets $1.9B in financing
...ng delta's group of lenders, including GE and Morgan Stanley; allowed the company to obtain additional $200 million on top of the $1.7 billion it initially sought, at a rate of 11.198 percent, about 0.3 percent below what the airline had anticipated." Huebner also stated that "$50 million of the total would be used to pay down a higher interest, $350 million dollar loan that the airline received from American Express at the time of the bankruptcy filling. Judge Prudence Beatty approved the loans. The loans that delta was able to get are know as debtor-in-possession financing. The judge also gave final approval for the sale of delta's regional carrier Atlantic southeast airlines to Skywest Inc., which will give delta a extra $200 million to pay off some of its remaining debt and maybe be able to keep up on there promise to their retired pilots and pay them their full pension plans.The Eng...