UPDATED Information and Lists Concerning Resolution of Certain Objections PDF Print E-mail

UPDATED Information and Lists Concerning Resolution of Certain Objections to Supplemental Term Sheet, as amended

The Supplemental Term Sheet and the Amendment to Supplemental Section 1114 Pilot Retiree Committee Agreement Term Sheet (which together establish the methodology for calculating claims for lost medical benefits on account of the 1114 process) were approved by the Court on February 22, 2007. In our previous posting we indicated that Delta had corrected certain data errors and included certain additional claims. Following is an updated summary of those corrections and additions, including links to final lists provided by Delta. Please note: If there is any inconsistency between this summary and the Supplemental Term Sheet as amended, the Supplemental Term Sheet and the Amendment to the Supplemental Term Sheet control.

(a) PRPs. Delta has corrected a data error and has re-calculated claims for certain post-retirement pilots ("PRP"). Please note that not all PRPs were affected by the data error. A PRP will not appear on this list if his claim was not affected by the data error, and in particular, if you are a PRP and either (1) you fall within the categories described in (b), (c), or (d), or (2) you are a retired pilot age 60 or over as of January 1, 2007, and not enrolled in Delta retiree medical coverage in 2006 or 2007, then your name will not appear on this list. The list provided by Delta can be accessed through this link: Delta Retired Pilot PRP List.

(b) 2006 Enrollees. Delta has refined its data to identify and calculate full Section 1114 claims for additional pilot retirees who were enrolled in a Delta retiree medical plan, either through a COBRA plan or otherwise, at any point during 2006. The list provided by Delta can be accessed through this link: COBRA List 3/6/07

(c) "Hardship Class." Delta has agreed to calculate full Section 1114 claims for retired pilots as if they were still enrolled if they were (i) under age 60 as of January 1, 2007; (ii) actually enrolled in Delta retiree medical coverage in 2005; and (iii) receiving non-qualified retirement benefits during 2005 until Delta suspended such payments in September, 2005. The list provided by Delta can be accessed through this link: Under 60 Hardship Group 03/06/07

(d) Under-60 Contingent Claim Group. Delta, the Section 1114 Retired Pilots Committee, and the Unsecured Creditors Committee have agreed to increase the amount of the settlement offered for retired pilots under age 60 as of January 1, 2007, who have contingent and unliquidated claims because they were not enrolled in a Delta plan during 2006 or 2007, and who are not members of the Hardship Group. Instead of a settlement amount of $2,100 each, members of this group will receive a proportional share of a total amount of $18.8 million in settled claims. Each member of this group will receive a settled claim in an amount directly proportional to the ratio which the particular Under-60 Contingent Group claimant's full Section 1114 claim bears to the total of all fully calculated Section 1114 Under-60 Contingent Group claims. Delta has informed us that, based on the data gathered to date, it projects that the settlement should result in each member of the Under 60 Contingent Claim Group receiving a settled claim for over 50% of that claimant's fully calculated Section 1114 Claim. The list provided by Delta can be accessed through this link: "Under 60 non-COBRA opt out 3/6/07

Delta will send notices of the recalculated claims in all of these groups directly to the affected individuals.

 
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