Delta Air Lines completes offering of common stock

Delta Air Lines has completed its offering of common stock. The company sold 18,172,219 shares of common stock through a continuous offering program equity distribution agreement with Citi, generating gross proceeds of approximately $196 million. All of the shares of stock sold in this offering were withheld, as the employee portion of withholding taxes on the issuance and vesting of equity awards made to employees in connection with Delta’s merger with Northwest, and as a result, these shares were not newly issued at the time of the offering but were sold out of treasury. The net proceeds of the offering will be used for general corporate purposes, including replacing funds that were used to pay the above mentioned withholding taxes.