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They did file bankruptcy. The came out of bankruptcy.
They fly a full schedule and are in the process of merging with Northwest.
The large sign at Atlanta-Hartsfield which says, "Fly Delta Jets" is not going anywhere.
They filed a chapter 9 reorganization not a liquidation. Virtually every airline has done this. If they merge with NWA, which seems quite probable, they will be the largest airline in the world. You need to read the business section of the paper more.
Any airline is a crap shoot these days. If the DL/NW merger goes through, they should be on firmer footing. Of all the majors flying now, my take is United and Useless airways are the most likely to go out of business but no more than a 10% chance of that happening.