Audio – Bid for Delta Air Lines “first step in a long dance”

November 15, 2006

jacobs.jpgUS Airways Group’s takeover bid for Delta Air Lines is “the first step in a long dance” of increasing consolidation in the U.S. airline industry, Lazard Freres & Co. Deputy Chairman Kenneth Jacobs told the Reuters Investment Banking Summit in New York. ”I think that the massive restructuring that has gone on through the bankruptcy process, which is still underway for at least two of the players, probably enables more activity to take place now than at any other period of time. So, we are on the tip of the iceberg here.”

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