To increase liquidity, Delta taps $1B credit line

Facing an expected $600 million in merger-related charges, Delta Air Lines Inc. has drawn $1 billion from a credit line to give it added financial flexibility. Ed Bastian, Delta's president and CFO, stressed that the money is not needed for operations. "We believe we will have more than sufficient cash on hand at the closing to manage the integration process and run the day-to-day business," he said in a memo, noting that the company had $3.7 billion in liquidity at the end of July.

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