Delta Air Lines Inc. is setting April 30 as its date to emerge from bankruptcy. Delta is expected to announce later this week 11 members to serve on its post-bankruptcy board of directors. The board will pick a chief executive to replace Gerald Grinstein, who has said he plans to step down sometime after Delta exits Chapter 11. The third-biggest carrier in the U.S. said it plans to improve customer service and sell assets—it didn't say which assets—to build shareholder value. Delta will continue to expand its international service, with a special focus on its service from New York’s John F. Kennedy International Airport.

While the CEO is not ruling out any options, Grinstein said, "Frankly, I see its future more as an acquirer rather than being acquired." Delta recently fought off a hostile takeover by US Airways Group Inc. and rewarded its employees for staying loyal.

Delta, which plans to relist in early May, expects to earn $816 million in pretax income, excluding special items, in 2007, it said in a filing with the Securities and Exchange Commission. That compares with a 2006 pretax loss of $452 million.

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