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Delta Pilots Warned Of Falling Cash Levels

Contributed by mm | August 20, 2005 4:02 AM PST





I'm not a fan of Delta Air Lines -- it treated me badly recently.

From Wall Street Journal:

Delta Air Lines' pilots union said the company has given notice that Delta has fallen below certain previously agreed cash levels, opening a window for discussions on possible additional concessions, as required under a so-called "bankruptcy protection" agreement signed last fall.

The Air Line Pilots Association, which is Delta's only major union, said in a letter to union members that the company advised that giving the union notice "does not mean it has decided to pursue any particular course of action at this time."

However, the notice from Delta, which was negotiated under last fall's agreement that secured $1 billion in annual pay and benefits give-backs to the company, gives the union a 30-day window to negotiate new changes to its five-year contract with the company. After those 30 days, Delta could then, if it has filed for Chapter 11 bankruptcy court protection, file a petition requesting to dump its labor union contracts.
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