Wed, Jul 07, 2004
Otherwise, Carrier Says, It's Chapter 11
Delta Airlines wants its high-paid
pilots to give up $1 billion a year in concessions, otherwise
threatening to file for Chapter 11 bankruptcy, according to a
USA Today reports the new demand is decidedly higher than the
$800 million Delta asked its pilots to give up earlier this
The pilots' union (ALPA) appears
unwilling to play the "take-it-or-leave-it" deal Delta is offering.
A spokeswoman for the union told USA Today that it will make its
own offer to the airline next week.
Talks between Delta and the ALPA broke down back in January. The
company wanted $800 million a year in concessions. The pilots were
only willing to take a 30-percent pay cut. That left them the
highest paid pilots in the business, while it left Delta with a lot
of red ink on its books.
But the ALPA pilots may want something in return for their
concessions. Union Chairman John Malone told USA Today he expects
some sort of equity or a seat on the Delta board if his pilots give
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