Delta Pilots Take Pay Cut as Bankruptcy Looms
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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 -- 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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Delta Air Lines' pilots face a painful choice: accept a a one-third cut in pay, or reject it and risk losing their jobs if Delta goes into 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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ATLANTA Delta Air Lines Inc.&#39;s chief executive said yesterday he is declining his six-figure salary for the rest of the year as he detailed a 10 percent pay cut that will affect senior officials, administrative staff and ticket and gate agents.
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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, the third-largest carrier in the United States, announced Wednesday it will cut 7,000 jobs -- 10 percent of its workforce -- during the next 18 months and will slash wages.
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More than 200 Delta Air Lines (DAL.N: Quote, Profile, Research) pilots retired as a concession package aimed at saving the No. 3 airline from bankruptcy took effect on Wednesday.
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NEW YORK, USA  - Delta Air Lines announced an aggressive restructuring plan yesterday that would cut 6,000 to 7,000 jobs and slash costs, while warning that bankruptcy remains &quot;a real possibility&quot;.
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Delta Air Lines' chief executive yesterday said he is declining his six-figure salary for the rest of the year as the airline cuts by 10 percent the pay of executives, ticket and gate agents, and other nonunion workers.
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Delta Air Lines Inc., the third- largest US carrier, may avert a bankruptcy filing after winning agreement on wage and benefit concessions from its pilots union as part of an effort to reduce costs after losses widened.
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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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Delta Air Lines  on Tuesday said it would reduce the pay of executives and frontline employees by 10 percent as of Jan. 1 as part of its drive to slash costs and avoid bankruptcy.
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Workers at struggling Delta Air Lines will see their pay cut by 10 percent, their health care premiums go up and their vacation time trimmed under a cost-saving plan announced Tuesday.
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ATLANTA - Delta Air Lines will cut up to 7,000 jobs, reduce wages and pull back at its Dallas-Fort Worth airport hub as part of a sweeping restructuring plan that could still leave it vulnerable to bankruptcy.    The job cuts representing about 10 percent of its overall work force will come over the next 18 months, Delta chief executive Gerald Grinstein said Wednesday during a meeting with 300 of the company's middle managers...
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ATLANTA - Delta Air Lines is axing up to 7,000 jobs, cutting employee wages and shedding its Dallas hub as part of a sweeping turnaround plan aimed at helping the nation's third largest carrier cope with high fuel costs and competition from low-fare rivals.    But even with those changes - part of a $5 billion cost-saving program - CEO Gerald Grinstein warned on Wednesday Delta would seek bankruptcy court protection if Delta can't slow the pace of pilot retirements by the end of September...
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Delta Air Line&#39;s pilots negotiation committee last night reached a tentative cost-cutting agreement with the Atlanta-based airline.