UPDATE; Delta (DALRQ) CEO Plans to Emerge From Bankruptcy As a Stand-Alone Carrier

UPDATE 2: Delta Air Lines' (OTC: DALRQ) CEO Gerald Grinstein responded to U.S. Airways' (NYSE: LCC) proposed merger.

He said, "We received a letter from U.S. Airways this morning and will of course review it. Delta's plan has always been to emerge from bankruptcy in the first half of 2007 as a strong, stand-alone carrier. Our plan is working and we are proud of the progress Delta people are making to achieve this objective.

He also said, "The Bankruptcy Court has granted Delta the exclusive right to create the plan of reorganization until Feb. 15, 2007. We will continue to move aggressively towards that goal."