CEO forgoes salary; deal reached to recall retired pilots
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SAN FRANCISCO (CBS.MW) - Delta Air Lines CEO Gerald Grinstein will forgo his salary for the rest of year as part of a cost savings plan that will cut executive salaries by 10 percent, the floundering airline said Tuesday.
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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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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 turmoil in the airline industry intensified yesterday when leaders of the pilots union at US Airways rejected the company&#39;s latest plan to cut wages and benefits and a key member of
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US Airways Group Inc., struggling to avoid a second bankruptcy since 2002, gave its pilots&#39; union a new plan for $295 million in pay and benefit cuts three days after the group rejected a prior offer.
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Delta Air Lines Inc. (DAL.N: Quote, Profile, Research) on Tuesday said it will reduce executive and employee pay by 10 percent starting in January and its CEO will go unpaid for
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A former Charter Communications Inc. executive left jobless when the nation's third-largest cable television provider eliminated his position without explanation last month will collect nearly &#36;600,000 in severance, the company announced Friday.
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Leaders of the pilots&#39; union at US Airways said on Friday that they had directed their negotiating team to resume talking with the company over $295 million in labor concessions.
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Airline says it will need $1B in concessions from pilots, about two-thirds of which would come from pay cuts, to avoid filing for bankruptcy protection.
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By Kyle Peterson CHICAGO  - Pilots at Northwest Airlines Corp., the No. 4 U.S. air carrier, have ratified a $265 million concession package that includes 15 percent pay cuts, the pilots union said on Friday.
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SAN FRANCISCO (CBS.MW) -- Pilot leaders at United Airlines unanimously endorsed a tentative agreement that will cut pay by 15 percent, opting to accept management&#39;s demands rather than risk the chance of losing more in federal bankruptcy court.
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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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The leader of a rebel pilot group at US Airways charged that the company was demanding too much from employees.
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Delta Air Lines on Tuesday slashed pay for most workers, and pilots agreed to contract changes that should prevent a wave of pilot retirements from pushing it into bankruptcy protection.
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US Airways (UAIR.O), struggling to avoid a second bankruptcy, has asked pilots for a 16.5 percent pay cut, USA Today reported in its Friday editions.
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The leaders of United Airlines pilots union have agreed to accept a 15 percent pay cut and not oppose the elimination of their pension plan, setting a precedent
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MINNEAPOLIS - Leaders of the union for Northwest Airlines pilots voted unanimously Saturday to endorse a tentative agreement that will cut pilot compensation by $265 million annually.    The Master Executive Council of the Northwest branch of the Air Line Pilots Association voted 10-0 to submit the two-year deal to union members for their ratification...