Delta, Pilots Agreement May Help Avoid Bankruptcy
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Delta Air Lines Inc., the third- largest US carrier, may avert a bankruptcy filing after winning agreement on wage and benefit concessions from its pilots union as part of an effort to reduce costs after losses widened.
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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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Delta Air Lines and its pilots union recessed today without reaching an agreement on pay cuts that are key to the carrier&#39;s efforts to avoid bankruptcy.
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Delta Air Lines, in an effort to avoid filing for bankruptcy protection, is considering giving its pilots an equity stake in exchange for pay and benefit cuts, a Delta pilot spokeswoman said yesterday.
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Delta Air Lines&#39; pilots union says it had reached a tentative agreement on concessions that could save the struggling carrier from bankruptcy.
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A pay cut deal between Delta Air Lines and its pilots union didn&#39;t materialize Tuesday, though investors apparently think the airline&#39;s chances of sidestepping bankruptcy are improving.
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US Airways Group Inc.'s pilots union  said on Wednesday it may agree this week on a plan to cut wages  and benefits to help the seventh-biggest U.S. airline avoid a  second bankruptcy filing.
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he pilots&#39; union at US Airways said yesterday that it might be close to reaching an agreement on wage and benefit cuts that the struggling airline contends are necessary to avoid another bankruptcy filing.
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Delta Air Lines Inc., the third-largest US carrier, reached a tentative agreement with its pilots union on pay reductions, according to a statement by the union.
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(September 11, 2004) - US Airways made a last-ditch contract offer to the union that represents its pilots Friday as the airline tries to avoid a second bankruptcy filing that may be just be days away.
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Union officials representing 7,500 pilots at Delta Air Lines said Wednesday night they have reached a cost-cutting agreement with management, which presumably could halt, or at least
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ATLANTA -- Delta Air Lines' pilots union agreed yesterday to allow the struggling carrier to bring pilots out of retirement on a limited basis to deal with staff shortages that threaten to ground flights.
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Delta Air Lines' pilots face a painful choice: accept a a one-third cut in pay, or reject it and risk losing their jobs if Delta goes into bankruptcy.
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Delta Air Lines&#39; pilot union has agreed to negotiate the early retirement issue that the company says could lead it into bankruptcy if it is not settled by the end of this month.
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WASHINGTON -- US Airways Group Inc. and its pilots union broke off talks on reduced pay and benefits the airline is seeking to avoid a bankruptcy filing, with the union agreeing to take the latest company proposal to its leaders this week.
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Pilots at Delta Air Lines Inc.  on Thursday ratified a concession package that will save the carrier &#36;1 billion a year, in a move the company hopes will buy it time to restructure outside of bankruptcy.
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United Airlines, seeking cost cuts to help it get out of bankruptcy, has reached a tentative agreement with its pilots union, the first labor accord on additional concessions the carrier proposed last month.