A bankruptcy judge on Wednesday approved the $280-million-a-year concessions agreement between Delta Air Lines Inc. and its pilots, rejecting claims by the government's pension insurer that it should receive the compensation the pilots were promised if their pension is terminated.
ATLANTA - A continuing exodus of Delta Air Lines Inc. pilots has drained the pension plan to the point where future lump sum payouts to retirees by the bankrupt carrier might be in jeopardy, according to the union.
US Airways' $8.8 billion bid to buy Delta Air Lines has put Delta management and its pilots union on the same side again in opposing the deal - at least for now.
ATLANTA - A mere eight days out of the bankruptcy gate, Delta Air Lines Inc. signaled Thursday it wants to move quickly to restructure its costs as it announced it will cut up to 9,000 more jobs, slash pay for executives and other employees and cut domestic capacity while adding more international flying.
ATLANTA -- The chief executive of Delta Air Lines gave a bleak outlook Wednesday of the carrier's ability to increase revenue, and said that means getting deep wage cuts from pilots is even more crucial to its survival.