Labor & Economic News Blog

Friday, September 01, 2006

Delta could face fight on pilot pension plan

Delta could face fight on pilot pension plan
The opening round begins today in Delta Air Lines' bid to follow in the footsteps of other big bankrupt airlines that have shed billions of dollars' worth of pension promises to their employees. Delta wants to dump its pilots' underfunded pension plan, a move it says is essential to completing a Chapter 11 restructuring by next year. U.S. Bankruptcy Judge Adlai Hardin opens a hearing today on Delta's motion to terminate the pilot plan. The airline has said it hopes to keep a larger plan covering flight attendants and ground workers, and recent federal legislation giving it more time to fully fund that plan boosted that prospect.

 



<< Blog Home

 

This page is powered by Blogger. Isn't yours?