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Deal of the Day: Uncovering Hidden Delta-US Air Synergies

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We've been running through our financial models here in DealBreaker HQ. Okay. Not really. We've been doodling on cocktail napkins at Harry's while we enjoy our liquid lunch. But we've none the less managed to uncover one potentially valuable and unreported synergy in the Delta-US Airways merger.
The two airlines have three recent bankruptcies between them—and after the merger both will continue to face challenges from fuel costs, employee costs, competition from cut-rate carriers and terrorism risks. So there's a not to far-fetched chance that the combined company will face bankruptcy again.
And you know what? Bankruptcies are expensive. Everyone—debtors, creditors, purchasers—hires lawyers, and the lawyers get paid out ahead of almost everyone else. So next time around, instead of paying two sets of lawyers for Delta and US Airways, they can pay just one. Synergy, baby, synergy!