Delta Air Lines
Tuesday delayed filing its third-quarter report with the
Securities and Exchange Commission
In an SEC filing, Delta said it couldn't file its Form 10-Q on time "without unreasonable effort and expense." The filing said Delta was "in the process of negotiating and implementing a crucial transformation plan to reduce its costs as part of an out-of-court restructuring."
Delta, the nation's third-largest airline company, said it would file its quarterly report in a "timely manner." The company indicated it would have five additional days to file the report beyond the original due date, which was today.
The airline is waiting for its pilots to vote on a package of concessions designed to save Delta $1 billion a year. Voting is due to end Thursday. Delta is also waiting for the results of a debt exchange that expires Nov. 18.
The company is bleeding cash in an environment of high fuel costs, industry overcapacity and tough price competition. Delta is also burdened with more than $20 billion in debt.
Delta rose 4 cents Tuesday to close at $6.25.