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Delta Air plans for stock to trade on NYSE in May
Wed, Mar 28 11:24 AM EDT

CHICAGO (Reuters) - Bankrupt Delta Air Lines (DALRQ.PK) said on Wednesday it has filed an application to list its new common stock on the New York Stock Exchange after it leaves Chapter 11.

The No. 3 U.S. airline, which aims to exit bankruptcy on April 30, said it expects its stock to begin trading on the NYSE under the ticker symbol DAL.

Existing shares of Delta will be wiped out when the company emerges from Chapter 11. Delta has said it expects to have a market value of $10 billion.

The carrier said on Tuesday it expects to see a profit in 2007 on cost reductions and higher revenue.

Speaking on CNBC on Wednesday, Delta Chief Financial Officer Ed Bastian said the airline would look into fleet replacement. The carrier is interested in the Boeing Co. (BA.N) 787 and other narrow body planes.

Bastian also said the company may spin off regional carrier Comair, which is also in bankruptcy. He said a decision has not been reached.

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