Delta Reaches Concession Deal With Pilots

Law360, New York (May 31, 2006, 12:00 AM EDT) -- Raising the ire of the Pension Benefit Guaranty Corp., Delta Air Lines Inc. and its pilots struck a deal Wednesday that allows $280 million in annual concessions.

The union representing the pilots for the nation’s third-largest carrier stated in a memo that 61% of the pilots voted for the concessions.

The deal, which would begin Thursday and continue through 2009, was subject to approval by the bankruptcy judge on a date still to be determined.

However, the agreement did not go over well with all parties...
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