By Order 2003-11-16, issued November 19, 2003, we granted Delta Air Lines, Inc. (Delta), a U.S. direct air carrier holding a certificate issued under 49 U.S.C. 41102, a one-year exemption from the requirements of 14 CFR 212.8(c), subject to a variety of stated conditions, to permit Delta’s use of a standby letter of credit in lieu of a bond to protect charter customer payments and to guarantee the performance of charter flights it undertakes.