Pilot accord might aid Delta
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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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SAN FRANCISCO (CBS.MW) -- Delta Air Lines and its pilots reached a tentative contract agreement late Wednesday, according to the pilots union, potentially allowing the struggling carrier to avoid declaring bankruptcy.
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If Delta Air Lines&#39; pilots approve contract concessions, they will be letting the company&#39;s regional subsidiaries and affiliates operate almost three times as many 70-seat regional jets as before.
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Troubled US carrier Delta Air Lines has reached an outline cost cutting agreement with its pilots, the union says.
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The labor cost and productivity problems of major airlines have been intractable for a couple of decades, which makes imminent pay concessions by Delta pilots a hopeful event for the airline, lenders, investors and the industry.
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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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Leaders of the union that represents pilots at Delta Air Lines  and Northwest Airlines  have reached a deal to integrate the two work groups if the airlines merge, the Detroit News reported on Tuesday.
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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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Bankrupt Delta Air Lines Inc.  said on Monday its creditors agreed to allow the carrier to give retired pilots an additional $719 million in pre-petition claims to help them recoup lost pension benefits.
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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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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 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.
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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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NEW YORK -- Delta Air Lines Inc. managers and pilots will meet again today, and likely negotiate through the weekend, to find a way to keep the airline staffed with pilots, as many opt for early retirement.
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Delta Air Lines Inc. has a tentative pilot deal on concessions and much-needed breathing room, but hasn&#39;t detailed the progress of its crucial debt restructuring efforts.
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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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A merger between Delta Air Lines Inc   and Northwest Airlines Corp  could be announced  in the next few weeks as Northwest pilots review details of a  proposed deal, people briefed on the situation said on Monday.