Delta Explores Options, Hopeful on Pilots
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Delta Air Lines Inc. DAL.N said on  Monday it is meeting with bankruptcy lawyers to prepare in case  the carrier needs to file for bankruptcy protection, but added  that recent talks with pilots make it hopeful a pilot agreement  can be reached later this week.
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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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Leaders of Delta Air Lines (DAL:NYSE - news - research) pilots union have approved a tentative package of concessions and will send it to rank-and-file members for a vote.
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The boards of Delta and Northwest have both scheduled emergency meetings for Tuesday where the deal, which would reshape the airline industry, could be approved.
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The chief executive of Delta Air Lines Inc. said Thursday a tentative pact the company has reached with its pilots for $1 billion in concessions doesn&#39;t mean the struggling carrier is out of the woods in terms of avoiding bankruptcy.
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Pilots at Delta Air Lines Inc. DAL.N  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 can shift more flying to regional jets but also will have to give furloughed pilots first crack at any new jobs that result, under the tentative agreement union members begin voting on Monday.
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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' pilots union said late Wednesday it had reached a tentative agreement on concessions that could save the struggling carrier from bankruptcy.
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The pilots of Continental Airlines Inc  are preparing for a potential merger and plan to have a say in any deal.
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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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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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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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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 has sealed a $1 billion-a-year pay cut deal from its pilots union, but the struggling airline still has a long road of cost-cutting ahead before it completely averts the threat of bankruptcy, analysts say.
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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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Delta Air Lines Inc. , struggling to avoid a bankruptcy filing, may reach an agreement this week with pilots to prevent retirements that would disrupt flights, chief executive Gerald Grinstein said.