Delta investors agree to exchange $10 million 7.7% notes for 3 million shares

By Ted A. Knutson

Washington, May 11 - Delta Air Lines Inc. said holders of $10 million in principal of 7.7% unsecured notes due Dec. 31 have agreed to exchange their debt for 2.89 million common shares.

As of Dec. 31, 2004, the Atlanta-based carrier had $167 million of the notes outstanding.

The troubled carrier made the announcement in an 8-K filing with the Securities and Exchange Commission.

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