Northwest Reaches $6M Agreement With Pilots

Law360, New York (April 9, 2008, 12:00 AM EDT) -- Hoping to tie up the last loose ends of its bankruptcy, Northwest Airlines Inc. asked a court on Tuesday to approve a $6 million settlement agreement that would resolve all grievances of its airline pilots union.

Under the settlement, the Air Line Pilots Association International will fix a general unsecured claim against Northwest at $4.95 million, and an administrative expense claim at $1 million. Any other amounts of the claims will be disallowed in their entirety.

As soon as the settlement is approved, Northwest and ALPA...
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