US Airways raises Delta offer

ATLANTA (AP) — US Airways Group Inc. raised its offer for Delta Air Lines Inc. by 20 percent to $10.2 billion on Wednesday, as it seeks to put pressure on the bankrupt carrier's creditors to agree to a deal that Delta's management opposes.

It also set a Feb. 1 deadline for certain conditions to be met or its entire bid would be revoked.

US Airways said it would raise its offer by $1.7 billion from its Nov. 15 bid that was currently valued at $8.5 billion.

The increased offer comes just two weeks after the chief of Tempe, Ariz.-based US Airways, Doug Parker, told The Associated Press that his company had no intention at the time to increase its offer.

Even so, Parker did not exactly rule out the possibility of changing his mind about the price.