Wall Street's top investment banks are squaring off on the fate of bankrupt Delta Air Lines as six step up to provide $2.5bn (€1.9bn) in exit financing while two other banks are backing a takeover offer.

Delta said today that JPMorgan, Goldman Sachs, Merrill Lynch, Lehman Brothers, UBS and Barclays Capital will provide $2.5bn in exit financing to help it emerge from bankruptcy.