Delta Air Lines Inc.'s settlement with holders of $419 million in bonds issued to finance improvements at Cincinnati-Northern Kentucky International Airport was upheld on appeal.
Holders of about $50 million worth of the bonds appealed the settlement's April approval by U.S. Bankruptcy Judge Adlai Hardin in New York, saying the trustee for the bonds didn't have the right to agree to the settlement.
U.S. District Court Judge John G. Koeltl today rejected the bondholder group's arguments and affirmed the settlement.