Delta Air Lines filed a prospectus to sell up to 9.2 million shares of common stock by the selling stockholder.
“The shares of our common stock may be offered for sale from time to time by JPMorgan Chase Bank, as duly appointed trustee of the selling stockholder, at the direction of Newport Trust Company,” Delta read in its prospectus.
The proceeds from the sale are “solely” for the account of the selling stockholder and for the benefit of employees and retirees and their beneficiaries participating in pension plans.
Delta's prospectus added: “We will not receive any proceeds from any sale of our common stock by the selling stockholder.”