Will Continue to Press for Value-Enhancing Opportunities

    NEW YORK, Jan. 31 /PRNewswire/ -- The Unofficial Committee of Unsecured
 Claimholders of Delta Air Lines, Inc. today expressed its disappointment
 that the Official Creditors' Committee declined to take the actions
 requested by US Airways in connection with its merger proposal, thereby
 denying creditors the option to choose whether to accept Delta's standalone
 reorganization plan or pursue strategic alternatives.
     The Unofficial Committee previously sent a letter to the Official
 Creditors' Committee signed by holders of approximately $2.75 billion in
 unsecured claims urging them to take the actions requested by US Airways.
 Their failure to do so may very well result in substantially diminished
 creditor recoveries in this case.
     The Unofficial Committee recognizes that current Delta management's
 hostility to the US Airways offer complicated the decision of the Official
 Creditors' Committee. As the largest organized group of unsecured
 claimholders of Delta, the Unofficial Committee believes that it is
 important that both committees now work together to decide on important
 remaining issues facing all creditors.
     The Unofficial Committee will continue to work towards maximizing
 creditor recoveries and creditor rights in Delta's chapter 11 case. As
 future shareholders of Delta, the members of the Unofficial Committee
 consider it essential that all value-enhancing opportunities continue to be
 explored. In the immediate term, it is an important priority that
 reorganized Delta be positioned to have the right management, Board of
 Directors and compensation arrangements in place and that its corporate
 governance not pose any obstacles to value-enhancing mergers or other
 strategic alternatives. We look forward to working with the Official
 Creditors' Committee to institute the foregoing.
     The Unofficial Committee's financial advisor is Jefferies & Company,
 Inc., and its legal counsel is Paul, Weiss, Rifkind, Wharton & Garrison
 LLP.
 
 

SOURCE Unofficial Committee of Unsecured Claimholders of Delta Air Lines