Company Watch - Delta Air Lines.For more company news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jun 26, 2006 Delta Air Lines filed documents yesterday with the Pension Benefit Guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. Corp. to terminate its pilots' pension plan. The move, which Delta said is necessary to emerge from Chapter 11 bankruptcy protection, was not unexpected following the pilots' May 31 ratification of a concessions deal that will save the airline $280 million annually and that included incentives for pilots if they do not oppose the pension termination. PGBC filed a motion with the bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. advocating rejection of the concessions deal, which it said would cause the agency "to sustain a multibillion-dollar loss". But the court approved the deal and paved the way for the pension termination. "Unless the pilot plan is terminated, Delta cannot successfully restructure and emerge from bankruptcy," CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gerald Grinstein Gerald Grinstein is the former CEO of Delta Air Lines, Inc. of Atlanta, Georgia, the world's second largest airline. Grinstein came to the position in 2004, after CEO Leo F. wrote in a letter to members of the US Congress made public yesterday. PBGC PBGC See: Pension Benefit Guaranty Corporation , which has appealed the court's approval of Delta's agreement with the pilots, already has assumed many of the obligations of pensions terminated by United Airlines and US Airways and is estimated to have a $23 billion deficit. The Delta pension termination, which would take effect in September, is expected to be approved by the bankruptcy court. It is unclear when PBGC's appeal of the concessions deal's approval will be resolved. Jun 20, 2006 Delta Air Lines will launch daily New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of JFK-Mumbai flights from Nov. 1 aboard 777-200ERs and four-times-weekly JFK-Accra flights from Dec. 11 aboard 767-300ERs. With the start of Mumbai service, it will discontinue the JFK-Paris Charles de Gaulle-Mumbai flights it now operates. Jun 20, 2006 Delta Air Lines to become only airline to serve five continents bonstop from New York. Delta Air Lines will be the only airline to offer customers nonstop service to five continents from metropolitan New York with the addition of new nonstop flights between New York's John F. Kennedy International Airport
John F. Kennedy International Airport (IATA: JFK, ICAO: KJFK, FAA LID: JFK and Mumbai, India, and Accra, Ghana, effective Nov. 1 and Dec. 11, 2006, respectively (see Note). The new service further demonstrates Delta's commitment to growing its position as New York City's leading airline. Jun 19, 2006 US Dept. of Transportation yesterday tentatively selected Delta Air Lines, Frontier Airlines This article is about Frontier Airlines that was founded in 1994. For the company known as Frontier Airlines from 1950 to 1986, see Frontier Airlines (1950-1986). For the similarly named Frontier Flying Service see Frontier Flying Service. and JetBlue Airways For the Jet Blue database used in Exchange Server and Active Directory, see Extensible Storage Engine. JetBlue Airways is a major American low-cost airline owned by JetBlue Airways Corporation (NASDAQ: JBLU). to operate new US-Mexico flights that were granted in last December's revised air services treaty between the countries. Delta was selected to operate Los Angeles-Puerto Vallarta flights, Frontier was awarded LAX-San Jose del Cabo service and JetBlue was given New York JFK-Cancun flights. Any objections to the tentative awards are due within 10 days. Jun 23, 2006 PBGC Gets Delta Pilots Pension Notice. The government's pension insurer said Tuesday it has received Delta Air Lines Inc.'s notice of its intention to terminate its pilots' pension plan. Jun 20, 2006 |
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