Delta pilots approve $1 billion in concessions
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Delta Air Lines pilots, who resisted pay cuts for three years as their employer flew ever closer to bankruptcy, have voted to slash their own compensation to save the airline.
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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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Pilots at US Airways on Thursday  ratified a concession package that includes pay cuts of 18  percent, a decrease in company contributions to their  retirement plan and increased pilot productivity.
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US Airways pilots yesterday approved a five-year, cost-cutting contract that will reduce their pay about 18 percent and save the airline about $1.
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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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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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Negotiators for the Air Line Pilots Association and Delta Air Lines held unusual weekend talks, a sign of the deadline pressure both sides are feeling to agree on $1 billion in wage and benefit cuts before the third largest airline is forced into Chapter
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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 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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ATLANTA - Delta Air Lines Inc.&#39;s tentative deal with pilots for $1 billion in concessions gives the nation&#39;s third-largest carrier much-needed breathing room.
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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&#39; pilots, by far the best paid in the airline industry, face a painful choice over the next few weeks: accept a tentative deal that calls for a one-third cut in pay, or
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Pilots at Delta Air Lines Inc.   voted to approve a new contract with the company,  clearing one major hurdle in the bankrupt carrier&#039;s  restructuring plan, the airline and the union said on  Wednesday.
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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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On Wednesday, Delta pilots agreed on cost saving plan of the company as Delta Air Lines is trying to avoid possible filing for Chapter 11 bankruptcy.
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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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The pilots union at US Airways Group Inc.  on Thursday approved a &#36;300 million concession package, including pay cuts of 18 percent, to help the ailing carrier survive its second bankruptcy in two years.