Delta responds to Pardus; company to continue reviewing its options

By Lisa Kerner

Charlotte, N.C., Nov. 14 - Delta Air Lines Inc. chief executive officer Richard Anderson said that while the company appreciates Pardus Capital Management's views on industry consolidation, Delta remains committed to its current strategic review process.

Pardus had encouraged Delta to lead industry consolidation, according to a company news release. Anderson's letter to Pardus was included as part of the release.

Anderson noted that "the right consolidation transaction could generate significant value" for shareholders. However, the current high price of oil has become a factor in Delta's long-term planning process.

A special committee, led by non-executive chairman Daniel Carp, is working with Delta management to review strategic options, including potential consolidation transactions. The committee also retained financial and legal advisers to assist in the review.

Atlanta-based Delta Air Lines provides scheduled air transportation for passengers and cargo.

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