Debevoise & Plimpton has teamed up with Dechert to advise on the sale of the computer reservation arm of three embattled airlines as the debt-laden US aviation industry continues to struggle with the prolonged slump in passenger demand.
In a bid to trim a combined estimated debt of $5.6bn, American Airlines (AA), Northwest Airlines and Delta Air Lines agreed to sell their joint ticket processing system, Worldspan, to Travel Transaction Processing, a newly-created company formed by Citigroup Venture Capital Equity Partners and Teachers Merchant Bank.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]