Union: At Least 100 Delta Pilots to Retire as Pay Cuts Start
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At least 100 Delta Air Lines pilots are expected to retire effective Wednesday, the start date for a 32.5 percent pay cut agreed to in a $1 billion concessions package to help save the nation's third largest air carrier from bankruptcy.
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Delta Air Lines Inc.'s pilots union on  Tuesday directed its negotiators to work out an agreement to  address the early retirement of a large number of pilots, which  threatens to push the No. 3 U.S. airline into a Chapter 11  bankruptcy filing.
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Deal cuts pilots&#39; pay by one third, saves $1Ba year, avoids bankruptcy at No. 3 airline -- for now. NEW YORK (CNN/Money) - Delta Air Lines&#39; pilots union said early Thursday it had reached a tentative agreement
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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&#39; (DAL.N: Quote, Profile, Research) pilots union said late Wednesday it had reached a tentative agreement with the airline on cost savings.
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Bankrupt Delta Air Lines Inc.   said on Monday its creditors agreed to allow the  carrier to give retired pilots an additional $719 million in  pre-petition claims to help them recoup lost pension benefits.
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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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Delta Air Lines  on Wednesday said it plans to eliminate between 6,000 and 6,900 jobs during the next 18 months, implement a 10 percent across-the-board pay reduction and reduce employee benefits.
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Delta Air Lines&#39; pilots union said Wednesday night it had reached a tentative agreement on concessions that could save the struggling carrier from bankruptcy.
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Delta Air Lines Inc. said it will cut pay 10 percent for executives and most other employees and raise their health-care payments to help reduce costs and avoid filing for bankruptcy protection.
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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.
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Shares of Delta Air Lines Inc. DAL.N  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 on Wednesday said it  plans to cut between 6,000 and 6,900 jobs during the next 18  months, implement a 10 percent across-the-board pay reduction  and reduce employee benefits in a bid to avoid bankruptcy.
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Retired pilots may fly planes for Delta Air Lines as part of an interim agreement as the pilots union seeks to head off Delta&#39;s potential bankruptcy deadline.
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The battered shares of Delta Air Lines Inc. surged nearly 9 percent yesterday after its pilots agreed to salary cuts to try to help the ailing carrier avoid
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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&#39; much-awaited turnaround plan will include more job cuts at the ailing carrier, along with pay and benefits changes.