Delta, pilots agree to full $1B reductions
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Delta&#39;s pilots union said today that it has tentatively agreed to the full $1 billion in wage and benefit reductions the airline said it needs to help it avoid bankruptcy.
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A tentative $1 billion agreement reached by Delta Air Lines and its pilots union late Wednesday seemed to come at a painful, but practical cost.
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Delta Air Lines Inc.'s tentative deal with pilots for $1 billion in concessions gives the nation's third-largest carrier much-needed breathing room. But its crucial debt restructuring efforts remain a work in progress, and Delta's chief executive cautioned yesterday that bankruptcy remains a possibility.
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Description: Delta Airline pilots agree to a 32 percent pay cut to help the airline avoid bankruptcy. Analysts say it&#39;s not yet clear whether those cuts will be enough to put Delta back in the black.
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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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ATLANTA -- 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 bankruptcy, but their new contract offers no guarantees for the company's future.
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Delta Airlines has reached a tentative agreement with its pilots union on wage and benefit cuts aimed at avoiding a bankruptcy filing, The Wall Street Journal said in a report late Wednesday on its Web site.
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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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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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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 (DAL:NYSE - news - research) said Wednesday its 185 flight superintendents have approved a new contract including 10% wage cuts.
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Delta reached a tentative agreement with its pilots' union Wednesday night on wage and benefit cuts, averting a threatened bankruptcy filing, at least for now.
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ATLANTA - Delta Airlines Inc. is hoping its pilots&#39; union will approve a steep pay cut to help the company avoid bankruptcy. Delta pilots, currently among the highest paid in the nation with salaries that
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Delta Air Lines  on Tuesday said it would reduce the pay of executives and frontline employees by 10 percent as of Jan. 1 as part of its drive to slash costs and avoid bankruptcy.
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Pilots at Delta Air Lines overwhelmingly approved a new five-year contract with $1 billion in annual concessions sought by the airline.
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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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US Airways reached a tentative agreement with the leaders of its pilots union on $300 million in annual concessions yesterday, a deal that would result in the pilots permanently losing 17.5 percent of their salaries in exchange for a chance to save the airline and their jobs.