US Airways Increases Bid for Delta

By  | 

ATLANTA (AP) - US Airways Group is sweetening its bid for Delta
Air Lines.

Raising the offer by 1.7 billion dollars, US Airways is looking to put additional pressure on the bankrupt carrier's creditors to warm to a marriage opposed by management.

US Airways' bid is valued at more than 10 billion dollars. The earlier offer was made in mid-November.

It also set a February first deadline for certain conditions to be met or its entire bid would be revoked.

On the news, US Airways shares rose more than three percent this morning, boosting the value of the revised offer.

Delta, the nation's third-largest carrier, has maintained that it intends to emerge from bankruptcy as a stand-alone airline.

(Copyright 2007 by The Associated Press. All Rights Reserved.)