By Jim Jelter, = Bankrupt Delta scoffs at U.S. Airways' takeover bid=0A=0A=0ABy Jim Jelter, = MarketWatch=0ALast Update: 6:01 PM ET Nov 30, 2006=0A=0ASAN FRANCISCO (Mark= etWatch) -- Delta Air Lines Inc. emerged Thursday from a lengthy meeting wi= th U.S. Airways Group Inc. unconvinced that U.S. Airways' $8.5 billion host= ile takeover bid is the best course for the struggling airline.=0A GET QUOT= ES=0A Enter one or more symbols=0A =0A=0AQuotes delayed up to 20 Min= utes=0A=0A=0A=0A=0A=0A RELATED QUOTES=0A=0A DALRQ1.33 +0.06 =0A=0A LCC56.7= 6 0.00 =0A=0A AMR31.96 +0.07 =0A=0A=0A=0A=0A=0A=0A Top MarketWatch=0A Hea= dlines=0A=0AStrategists search for keys to 2008 election=0A=0AAfter Alcatel= -Lucent combo, smaller mergers called more likely=0A=0AThursday's biggest s= tock gainers and decliners=0A=0A=0A=0A=0A=0A=0ADelta (DALRQ: news) executiv= es and creditors of the airline, which is operating under bankruptcy protec= tion, spent much of the day listening to U.S. Airways (LCC: news) pitch the= merits of its Nov. 15 cash-and-stock offer for the Atlanta-based airline. = See full story.=0A"While we will fulfill this [review] obligation, we will,= as we have stated, continue to progress toward filing our stand-alone plan= by the end of the year, which would have us emerge from bankruptcy as a hi= ghly competitive, independent and financially sound airline by mid-2007," D= elta said in a statement.=0A"Our plan is working and we have tremendous, ha= rd-won confidence in it," the company added.=0ADelta tumbled into bankruptc= y in September 2005, financially crushed by soaring labor and pension costs= , higher jet-fuel prices, and stiff competition from low-cost carriers.=0AT= empe, Ariz.-based U.S. Airways, having recently emerged from bankruptcy its= elf after combining forces with America West, launched its bid for Delta ea= rlier this month, attempting to snare Delta before it emerges from bankrupt= cy.=0AUndeterred, U.S. Airways Chairman and CEO Doug Parker offered his own= post-meeting assessment. =0A"We were pleased to have made a presentation t= o both Delta and its creditors about what we believe are the compelling and= unique benefits of our plan," Parker said in a U.S. Airways statement.=0A"= We reviewed our offer and had a chance to engage in discussions on the many= facets of this proposal. While we recognize the steps that Delta managemen= t has taken, we are confident that our proposal for a 'New' Delta will crea= te more value than a stand-alone plan."=0AIf U.S. Airways were to prevail, = the combined airline would be the biggest in the country, eclipsing current= No. 1 AMR Corp. (AMR: news) , parent of American Airlines. =0AEarlier Thur= sday, Delta reported that it had narrowed its October operating loss to $88= million from a year-earlier $301 million. See full story.=0ADelta cut capa= city in October by 4.5%, restructuring its mix of domestic and internationa= l flying, and reduced its operating expenses by 6.9%. Revenue grew by 15.1%= from October 2005, compared with an industry average of 6.2%, the carrier = said. =0A=0AJim Jelter is Industrials Editor for MarketWatch in San Francis= co.