Delta pilots reach cost cutting agreement
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Troubled Delta Air Lines and its pilots late last night reached a tentative agreement that is expected to allow the company to significantly cut its operating costs and avoid bankruptcy, a union official announced.
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WASHINGTON -- US Airways and the lead negotiators of its pilots union reached a tentative, $300 million annual cost-cutting agreement early Friday morning, a move that the airline says will help it emerge from bankruptcy.
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Pilots at Delta Air Lines Inc. (DAL.N: Quote, Profile, Research) on Thursday ratified a concession package that will save the carrier $1 billion a year, in a move the company hopes will buy it time to restructure outside of bankruptcy.
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ATLANTA -- Delta Air Lines pilots handed the struggling airline a huge victory yesterday in its effort to avoid bankruptcy, agreeing to slash their salaries by more than $1 billion annually and forgo pay raises through 2009.
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Shares of Delta Air Lines Inc. jumped  on Thursday after the company and its pilots union reached a  tentative contract that will save the cash-strapped carrier $1  billion a year.
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Delta Air Lines pilots have agreed to slash their salaries by nearly a third and forgo pay raises for five years to help the struggling airline avoid bankruptcy, their union announced Thursday.
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Delta Air Lines&#39; pilots Thursday overwhelmingly approved a $1 billion package of concessions that cuts their pay by nearly a third but may pull the financially beleaguered carrier from the brink of bankruptcy.
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Northwest Airlines and its pilots union reached tentative agreement yesterday on a deal that would save the airline $300 million in labor costs.
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With a tentative deal to cut $1 billion in pilot costs, Delta Air Lines appears to have beaten back the threat of bankruptcy -- at least for now, analysts say.
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Leaders of the union that represents pilots at Delta Air Lines  and Northwest Airlines  have reached a deal to integrate the two work groups if the airlines merge, the Detroit News reported on Tuesday.
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SAN FRANCISCO (CBS.MW) -- Delta Air Lines and its pilots union reached a tentative agreement Monday to put retired pilots back into the cockpit to avoid canceling flights for lack of pilots.
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At least 100 Delta Air Lines (nyse: DAL - news - people ) pilots are expected to retire effective Wednesday. That&#39;s the starting date for the 32.5% pay cut agreed upon under Chief Executive Gerald Grinstein&#39;s master plan.
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US Airways and its pilots union are close to reaching a $300 million cost-cutting agreement, a key part of a restructuring plan that the airline says it needs to help it emerge from bankruptcy.
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Delta Air Lines agreed Monday to partly compensate the Pension Benefit Guaranty Corporation for taking over its pilot pension plan.
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Delta Air Lines Inc. DAL.N has  reached a tentative contract with its pilots that will save the  cash-strapped airline $1 billion annually, sending its shares  soaring almost 25 percent on Thursday.
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US Airways and its pilots union reached tentative agreement today on $300 million in wage and benefit cuts, after weeks of debate inside the union over whether to grant the cuts to the bankrupt airline.
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Delta Air Lines Inc., the number three US carrier, said yesterday it has agreed to give its retired pilots an extra $719 million in unsecured claims in its bankruptcy case to help them recoup losses from the termination of the pilots' pension plan.