Delta Stock

By: Associated Press
By: Associated Press

Delta Air Lines stock has fallen to a new 43-year low amid persistent fears about bankruptcy.

Shares of the Atlanta-based airline fell 44 cents, or nearly 15 percent, to close at two dollars and 53 cents Tuesday in heavy trading on the New York Stock Exchange.

That's Delta's lowest close since the University of Chicago business school's Center for Research in Security Prices began tracking such data in 1962, according to Alan Myers, director of database research for the center.

Delta's previous 43-year low was set on May Eleventh, when its stock closed at two-74.

Delta has lost nearly $10 billion and announced 23,000 job cuts since January 2001. CEO Gerald Grinstein says Delta is still working hard to avoid a Chapter Eleven filing, but says there are risks affecting the airline's ability to do that. Delta, citing high fuel prices, reported late last month that it lost $388 million in the second quarter.

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