Delta's Stock Takes Off After Pilot Deal
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Shares of Delta Air Lines Inc. DAL.N  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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The leadership of Delta Air Lines&#39; pilot union early this morning approved a tentative concessionary agreement with the company, sending it to a vote of the entire membership.
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US Airways&#39; (UAIR:Nasdaq - news - research) shares jumped almost 20% on news that management and pilots were back at the table, trying to hammer out an agreement on work concessions to save the company.
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The $1 billion in labor cost savings Delta Air Lines wrested from its pilots after asking for givebacks for three years finally start to accumulate this week, but some pilots won&#39;t be around for the belt-tightening.
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Delta Air Lines Inc&#39;s shares surged as much as 30 per cent yesterday amid speculation that the third-largest US airline would win $1 billion (euro780 million) in concessions from its pilots and avoid filing for bankruptcy.
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Delta Air Lines Inc. took a giant step away from bankruptcy with a tentative agreement on contract concessions from its pilots. But details on the proposal reached Wednesday were withheld while it was reviewed
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Troubled US carrier Delta Air Lines has reached an outline cost cutting agreement with its pilots, a deal that could save it from bankruptcy.
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Shares of US Airways Group Inc. (UAIR.O: Quote, Profile, Research) jumped on Friday after the air carrier&#39;s pilots union said it was working on a new labor contract and that its
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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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When US Airways made its unsolicited takeover bid for Delta Air Lines last month, it jolted the recovering airline industry and sparked talk about a wave of potential mergers.
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Investors pulled back from shares of major air carriers Friday as concerns loomed that US Airways Group Inc. and Delta Air Lines Inc.
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ATLANTA -- Delta Air Lines Inc. said yesterday it has obtained up to $600 million in financing as the struggling carrier seeks to avoid bankruptcy.
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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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CHICAGO: Pilots at Delta Air Lines have ratified a concession package that will save the carrier $1bn a year, in a move the company hopes will buy it time to recast outside of bankruptcy.
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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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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 may still face bankruptcy despite of tentative agreement with its pilots dated late Wednesday. Late Wednesday, Delta reached an agreement with its pilots to cut costs in order for the carrier to survive.