One month after Delta Air Lines Inc. emerged from bankruptcy, a group of disgruntled bondholders is challenging a bankruptcy court’s approval of a settlement over the carrier’s leases at the Cincinnati/Northern Kentucky International Airport, Bankruptcy Law360 reported today. The appeal, filed by the ad hoc Kenton County bondholders’ committee in the U.S. District Court for the Southern District of New York, is directed at the order approving the deal between Delta, the Kenton County Airport Board, and bond trustee UMB Bank NA. The KCAB and Delta had been parties to a lease that governed Delta’s use and occupancy of certain facilities at the Cincinnati/Northern Kentucky International Airport. But in 2005, Delta told the KCAB it planned to reject the lease. Delta, the KCAB and the trustee for $438 million in bonds issued by the KCAB to finance airport upgrades eventually came to terms on the settlement agreement. The bondholders, who hold more than 10 percent of those bonds, lodged an objection with the bankruptcy court in March.