=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SFGate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/n/a/2005/09/08/financial/= f110433D25.DTL --------------------------------------------------------------------- Thursday, September 8, 2005 (AP) Delta Completes Sale of Feeder Carrier (09-08) 14:59 PDT ATLANTA (AP) -- Delta Air Lines Inc. said Thursday it has completed its $425 million sale of feeder carrier Atlantic Southeast Airlines Inc. to SkyWest Inc. ASA will continue to operate as a Delta Connection carrier under a 15-ye= ar contract with Atlanta-based Delta. The deal, announced last month, is part of Delta's effort to raise cash = as it tries to head off a possible bankruptcy filing. SkyWest Inc., based in St. George, Utah, is the parent company of SkyWest Airlines, which operates as an independently owned partner carrier to Delta and United Airlines. SkyWest has been a Delta Connection carrier since 1987. The terms of the ASA sale call for $350 million in cash to be payable at closing, representing $330 million of the purchase price and $20 million relating to certain aircraft financing deposits. An additional $125 million, representing $95 million of the purchase pri= ce and $30 million relating to certain aircraft financing deposits, is payable to Delta if it maintains its Delta Connection agreement with SkyWest should it file for bankruptcy protection, or four years after the transaction closes. Delta, the nation's third-largest carrier, has said the proceeds will be used for general corporate purposes and to pay down $100 million of debt. Delta, hit by high fuel costs, has lost nearly $10 billion since January 2001. Delta shares rose 3 cents, or 2.7 percent, to close at $1.15 Thursday on the New York Stock Exchange. ___ On the Net: Delta Air Lines Inc.: www.delta.com ----------------------------------------------------------= ------------ Copyright 2005 AP