Delta Air offers nearly 18.2M shares through Citi

ATLANTA - Delta Air Lines Inc., the world's biggest air carrier, has agreed to offer nearly 18.2 million common shares through Citigroup Global Markets Inc.

Atlanta-based Delta said in a Securities and Exchange Commission filing on Wednesday it may offer and sell the shares from time to time through Citi, which will act as the carrier's sales agent.

Any share sales will be made through ordinary brokers' transactions on the New York Stock Exchange, at market prices, in block transactions, or as otherwise agreed with Citi, Delta said.

The airline will pay Citi a commission equal to 2 percent of the gross sales price per share sold under the equity distribution agreement.

All of the shares offered under the agreement were withheld for tax purposes from equity awards made to Delta employees, and certain equity awards of Delta employees that vested, in connection with the airline's acquisition of Northwest Airlines.

Shares of Delta sank 35 cents, or 3.1 percent, to $10.83 in morning trading.