the Debtors are operating as debtors-in-possession under the jurisdiction of the Bankruptcy Court . under section 365, we may assume, assume and assign, or reject certain executory contracts and unexpired leases, including leases of real property, aircraft and aircraft engines .

the Plan of Reorganization addresses various subjects with respect to the Debtors . the plan provides that most holders of allowed unsecured claims against the Detors will receive common stock of reorganized Delta in satisfaction of their claims . current holders of Delta’s equity interests would not receive any distributions, and their equity interests will be cancelled once the Plan becomes effective .

plan approved by creditors and confirmed by the Bankruptcy Court . the Debtors are planning to emerge from Chapter 11 shortly thereafter . reorganization in Chapter 11 has involved a fundamental transformation of our business .

the $3.0 billion in annual financial improvements under our restructuring business plan is a result of (1) revenue and network productivity improvements, (2) in-court restructuring initiatives and (3) labor cost reductions . key initiatives accomplished by the end of 2006 in the area of revenue and networking productivity improvements include: simplifying our fleet, including retiring four aircraft types, and right-sizing capacity to better meet customer demand .

we offer more than 600 weekly flights to 58 destinations in Latin America and the Caribbean . our business plan includes annual cost reductions through in-court initiatives such as debt restructurings, lease and facility restructurings and rejections . some of our accomplishments through the end of 2006 include: restructuring our fleet by rejecting, returning or selling approximately 188 aircraft .