Delta Air Lines received a four-month deadline extension for filing its reorganization proposal, according to court documents. A U.S. Bankruptcy Court judge in New York today gave the Atlanta-based airline until Nov. 8 to file the plan, which was originally due July 11.
As part of its reorganization plan, Delta has sought to terminate its pilots' pension plan, which was underfunded by roughly $6.3 billion as of Sept. 30. That figure represents the majority of the airline's $10.6 billion total pension underfunding.
Delta filed a notice last week with the PBGC to terminate the pilots' pension plan effective Sept. 2. The airline filed for Chapter 11 bankruptcy protection last September.
