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Company Watch - Delta Air Lines.

Delta Air Lines

Delta proposes payment for ending pension plan, report says. Delta Air Lines will make a $300 million payment to its pilots if it terminates their pension plan, the Wall Street Journal reports, quoting unnamed sources. Delta said it has not decided whether to keep or terminate the plan. Delta, which is operating under bankruptcy protection, is in contract negotiations with its pilots union. February 10, 2006

Delta sues U.S. government for nonpayment of military flights: Delta Air lines has sued the U.S. government and says it is transporting military personnel at a cost of $117,000 a day without receiving any compensation. The airline said it continues to fly military personnel because it is obligated to do so under a contract that expires Sept. 30. February 9, 2006

Delta seeks severance package to retain top workers. Delta Air Lines is expected to ask a bankruptcy court if it can set up a severance plan aimed at keeping its top managers. Delta, which operates under bankruptcy protection, is experiencing high attrition. Qualifying executives would receive between six and 12 months salary if their jobs are eliminated.

February 9, 2006

Delta creditor asks judge to ensure jet maintenance. A Delta Air Lines creditor has asked a bankruptcy court judge to force the airline to keep up regular maintenance on 32 jetliners used as collateral for debt. Wells Fargo Bank, acting as a trustee for investors who purchased some of the airline's debt, wants the airline to use the planes so they remain air worthy. Delta has said in court documents that it continues to maintain the planes. February 8, 2006

Delta may use trust fund to cover other costs, judge rules. Delta Air Lines may use money from a disability and survivor trust fund to cover other expenses, a bankruptcy judge ruled. The judge noted Delta has repeatedly stated that it does not plan to change retirees' entitlements.

February 7, 2006
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Publication:Airguide Online
Geographic Code:1USA
Date:Feb 13, 2006
Words:324
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