Northwest Files Reorganisation Plan

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Northwest Files Reorganisation Plan

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Message of Werkur737 - Sent 17 Mar 7:06

Northwest Airlines Corporation has announced that it and certain of its subsidiaries have filed their joint Chapter 11 plan of reorganisation with the United States Bankruptcy Court for the Southern District of New York, which is overseeing its reorganisation. The filing of our plan is a key milestone in our ongoing restructuring efforts and begins Northwest emergence from Chapter 11 protection , said Doug Steenland, Northwest Airlines President and Chief Executive Officer. Over the past 16 months, NWA has achieved the three key objectives NWA set for its restructuring: NWA has removed $2.4 billion in annual costs from the business, NWA has restructured its fleet and entered into new aircraft purchase agreements, and NWA has significantly strengthened its balance sheet. AIRFLEETS.NET STAFF PHOTO SCREENER
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