Delta went into bankruptcy protection in September 2005.

The third-largest US airline predicts its financial situation will improve this year after making a $6.9bn loss after exceptional items in 2006.

Newly issued Delta shares are expected to begin regular trading from 3 May.

Delta's old shares are being cancelled under the restructuring scheme and their holders will receive nothing.

New routes

Delta has cut almost 6,000 jobs during the restructuring, saving about $1bn a year in labour costs.

It has also cut its capacity in the highly competitive domestic US market and added 60 new international routes.

"Emergence from bankruptcy is not the end of a journey; instead, it is the beginning of a new and prosperous era at Delta," said the carrier's chief executive Gerald Grinstein.

Delta and Northwest Airlines both entered Chapter 11 bankruptcy in September 2005, which meant that four of the top six carriers had taken protection from creditors.

Since then, all but Northwest have resumed normal trading.

Under US law, Chapter 11 allows struggling American companies protection from their creditors while they restructure their finances.

The US airline industry as a whole turned a profit in 2006 for the first time since the attacks of 11 September 2001.

But there are signs that travel demand has been softening, with airlines such as Southwest Airlines and JetBlue Airways warning of sluggish bookings ahead of the summer travel season.