Delta mentions possibility of bankruptcy

Delta mentions possibility of bankruptcy    Delta Air Lines, which lost $383 million in the first quarter this year, publicly acknowledged for the first time it may be forced to seek bankruptcy protection if it cannot bring down its costs.
   In a quarterly filing with the Securities and Exchange Commission, the Atlanta-based carrier blamed its pilot salaries, the highest in the industry, for its inability to reach its goal of cutting non-fuel based costs by 15 percent. Speculation about a possible Delta bankruptcy increased on Wall Street a few weeks ago when Delta published its unofficial first-quarter results.
   Those numbers show yield declined 2 percent from the previous year despite a 6 percent increase in passenger traffic. Cargo revenues increased 8 percent to $122 million in the period ending March 31 primarily due to increased security and fuel surcharges and favorable foreign currency exchange rates. Cargo ton mile yield increased 7 percent.
   Delta would join US Airways and United as other major U.S. carriers who have recently tried to restructure under bankruptcy. United plans to emerge from bankruptcy protection this summer.