Delta Air Lines [DALQ] may explore the sale of its regional carrier Comair as the bankrupt airline seeks to raise money and cut costs, Delta's chief financial officer, Edward Bastian, said last week at a hearing in New York's bankruptcy court.

Delta would explore the sale only if the wholly owned unit could be restructured, he added, although the carrier does not have a restructuring plan in place, he added.

Bastian was testifying during hearings at the bankruptcy court, where Comair is seeking to terminate its flight attendants' contract as part of its push to cut costs.

Comair, which filed for bankruptcy protection in September with Delta, has said it needs about $42.3 million in annual savings, including about $8.9 million from its flight attendants, to restructure and be competitive. The airline already has agreements with its pilots' and mechanics' unions.

The flight attendants' union, the International Brotherhood of Teamsters, has argued that the airline's demands for cuts are not justified and place a disproportionately large burden on its members.

The union has threatened to strike if its contract is thrown out, with the flight attendants having already voted to authorize a walkout at the carrier. The airline has about 970 flight attendants.