Delta Done With Bankruptcy Stint

Grinstein, who plans to vacate his post after the airline's board names a successor, also said that emergence from bankruptcy "is not the end of a journey; instead, it is the beginning of a new and prosperous era at Delta."

In a recent research report, Prudential airline analyst Bob McAdoo said that Delta's new stock may face a decline early in its existence.

"With 400 million new shares coming to the market, the when-issued shares and soon the new DAL, shares are likely to trade near $15 rather than at the current [price]," he wrote. "As such, we would encourage selling the when-issued shares, and the new Delta common, unless valuations drop toward $15."

McAdoo added that he didn't mean "to indicate that we feel new DAL will never reach $23 to $25 in the next 12 months," but rather to say the current price would represent a substantial premium over other legacy airlines.