Delta dodges bankruptcy with labor deal
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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
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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., struggling to avoid bankruptcy, has hired an international marketing firm to help reshape its image. Terms of the deal between Atlanta-based Delta and New York-based Ogilvy &amp; Mather Worldwide were not disclosed Wednesday.
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More job cuts are in store at Delta Air Lines as the struggling US carrier tries to avoid bankruptcy court.
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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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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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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&#39;s pilots union said today that it has tentatively agreed to the full $1 billion in wage and benefit reductions the airline said it needs to help it avoid bankruptcy.
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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 Inc. said Monday it has obtained up to $600 million in new financing as the struggling carrier seeks to avoid 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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ATLANTA -- Delta Air Lines Inc. is considering exchanging some of its debt, possibly for equity in the company, as part of a larger effort to avoid bankruptcy.
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Nita Bertsche, who lives a few miles north of Atlanta and has been flying on Delta Air Lines for 20 years, was relieved this week to hear that the airline had, for now at least, managed to avoid bankruptcy.
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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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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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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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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.