Delta Air Lines Inc. is preparing to emerge from bankruptcy protection on April 30 with the goals of returning to profitability, improving customer service and selling more assets to build shareholder value, reported the Associated Press.

Later this week, the nation’s third-largest airline also expects to announce who will serve on its board of directors. The new board will be charged with selecting a new CEO to replace Gerald Grinstein, who plans to step down after Delta completes its reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company has spent the past two years restructuring its business and cutting costs to increase revenues.

Yesterday Grinstein commented on airline industry consolidation, saying that he does not believe it’s the right time for major airlines to merge. He sees Delta as more in the position to acquire a low-cost carrier. But he added that if a merger among major carriers occurs, his company “would have to look at its options.” Delta successfully fought off a hostile bid from US Airways Group Inc. earlier this year.