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Current DateTime: 04:24:00 30 Nov 2009
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Current DateTime: 04:24:00 30 Nov 2009
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Current DateTime: 04:24:00 30 Nov 2009
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  • Winterizing Your Portfolio

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Delta's New Stock Begins Trading After Carrier Exits From Bankruptcy
By: CNBC.com | 03 May 2007 | 10:01 AM ET
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Delta
AP
Delta Air Lines.

Delta Air Lines’ [DAL  Loading...      ()   ]
stock began trading on the New York Stock Exchange Thursday after the company emerged from bankruptcy earlier this week, ending a 19-month restructuring.

“It’s an awesome day,” Edward Bastian, Delta’s chief financial officer told CNBC’s “Squawk on the Street.” “We call it independence day.”

Delta has cut an estimated $3 billion in costs and transferred planes to promising international routes from unprofitable flights to domestic cities. But the company may be flying into a stiff headwind created by a slowing economy and rising fuel prices. Delta could be hurt if rivals cut fares in an effort to fill empty seats.

Delta's new shares trade under the symbol DAL.

© 2009 CNBC.com
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