Delta, pilots OK deal
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Union officials representing 7,500 pilots at Delta Air Lines said Wednesday night they have reached a cost-cutting agreement with management, which presumably could halt, or at least
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Negotiators for Delta Air Lines and its pilots union shook hands on a tentative pay-cut agreement Wednesday night that could divert the ailing Atlanta carrier from its course toward bankruptcy court.
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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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The11th-hour wage concession deal struck between Delta Air Lines Inc. and its powerful pilots union meets the $1 billion mark sought by management, through a combination of wage and benefit cuts plus new work rules that will increase productivity.
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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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ATLANTA -- Delta Air Lines pilots handed the struggling airline a huge victory yesterday in its effort to avoid bankruptcy, agreeing to slash their salaries by more than $1 billion annually and forgo pay raises through 2009.
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Pact with union may allow the No. 3 airline to avoid a bankruptcy filing, newspaper says. NEW YORK (CNN/Money) - Delta Air Lines and its pilots union reached an agreement on concessions that could allow the
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Delta Air Lines pilots ratified $1 billion a year in pay cuts and other concessions that have become the linchpin of the company&#39;s efforts to keep from spiraling into bankruptcy.
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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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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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NEW YORK  - Delta Air Lines appeared to have averted imminent bankruptcy with a cost-saving deal with its pilots union, but still faces challenges ahead, analysts said.
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The Northwest Airlines and Delta Air Lines boards could meet as soon as today to approve a merger that would create the world's largest carrier, if pilots for the two airlines agree, according to people familiar with the talks.
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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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Atlanta-based Delta Airlines has narrowly escaped bankruptcy, reaching a tentative deal with its pilots union involving $1 billion in pay and benefits cuts.
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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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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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Deal cuts pilots&#39; pay by one third, saves $1Ba year, avoids bankruptcy at No. 3 airline -- for now. NEW YORK (CNN/Money) - Delta Air Lines&#39; pilots union said early Thursday it had reached a tentative agreement