US Airways announced today that it would make a cash and stock offer of $8 billion to buy Delta Airlines. Delta is currently in bankruptcy protection. This offer would give unsecured creditors approximately $4 billion in cash and 78.5 million in stock. This offer would require approval by the U.S. Bankruptcy Court. "Doug Parker, chief executive of Tempe, Ariz.-based US Airways, said in a telephone interview that he is aware of the comments made by Delta's management in recent months, but he believes this is a fair offer and that ultimately Delta's creditors will see that. Delta is in bankruptcy and bankruptcy is a very open process, Parker said. The process is designed so that the creditors get the highest possible value for their clients. Given that process, what we have done is gone public with an alternative to a standalone plan." "Delta's chief, Gerald Grinstein, said as recently as last month that he had received "feelers" from UAL Corp.'s United Airlines about a possible merger 18 months ago, but that he quickly rejected them. He reiterated at the time that Delta has no plans for a merger." The full article will be available on the Web for a limited time: http://wcbstv.com/topstories/local_story_319063923.html Pam