Delta Air Lines has closed $2.1 billion of financing transactions, helping the company’s plans for 2010 debt repayments and strengthening its liquidity position.

The $2.1 billion transaction will generate $600 million in incremental liquidity after refinancing $1.5 billion from Northwest’s bank credit and revolving credit facilities. Delta became the world’s biggest airline on merging with Northwest last year.

“The competitive terms and strong demand for this financing reflect the market’s confidence in Delta and our financial strength,” said Ed Bastian, Delta’s president. “With these transactions, we’ve addressed more than 40 percent of our 2010 maturities and generated an incremental $600 million to bolster our best-in-class liquidity position.”

Delta says it expects to end the quarter on Wednesday with $5.6 billion in cash.

Bastian continued, “We’d like to thank our banks - Barclays Capital, Citibank, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and UBS Investment Bank - for their partnership and commitment to helping Delta secure our capital needs.”

The new financing transactions are secured by liens against Delta’s Pacific franchise, which includes route authorities, slots and gate leaseholds.