Nwa Bankruptcy Speculation Halves Stock; Northwest's Board Plans to Decide This Morning Whether to File for Bankruptcy Protection

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MINNEAPOLIS (AP) - Northwest Airlines Corp. disclosed on Tuesday that it chose not to make $42 million in required debt payments in recent days, and hasn't decided whether to do so. Not making the payments could trigger defaults that could lead to bankruptcy - a possibility that drove the company's shares down by more than half.

Northwest's board planned to meet this morning to decide whether to file for bankruptcy protection, said Will Holman, a spokesman for the Air Line Pilots Association union, which has a member on the board. Earlier, The New York Times said in its online edition the carrier may file for bankruptcy protection as soon as today, citing anonymous sources.

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Nwa Bankruptcy Speculation Halves Stock; Northwest's Board Plans to Decide This Morning Whether to File for Bankruptcy Protection

The carrier, whose mechanics have bee...

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