Delta Gets Green Light To Cut Retirees’ Health Benefits

Law360, New York (October 19, 2006, 12:00 AM EDT) -- A federal judge approved an agreement Thursday between Delta Air Lines Inc. and 42,000 of its retirees that's expected to save the bankrupt carrier about $50 million annually.

In his order, Judge Adlai S. Hardin Jr. of the U.S. Bankruptcy Court in Manhattan wrote that the change to the retirees’ medical benefits was in the best interest of both debtors and creditors.

“Taking into account the general uncertainty, expense, inconvenience and possibility of delay entailed in litigation generally, the modifications to retiree benefits…are well within the...
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