Delta stock plummets as bankruptcy looms

NEW YORK (Reuters) – Delta Air Lines’ (NYSE:DAL – news) shares fell more than 22 percent to an all-time low on Monday on widespread market speculation that the No. 3 U.S. airline was close to filing for Chapter 11 bankruptcy protection.

The sharp stock decline, which pushed the company’s shares to less than $1, follows a special board of directors meeting on Friday, a source close to board members said.