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Delta Agrees To Add $719M For Pilot Pensions

Law360, New York (November 28, 2006, 12:00 AM EST) -- Bankrupt Delta Air Lines Inc. plans to pay an additional $719 million in unsecured, pre-petition claims to allow its retired pilots to recoup a portion of their jettisoned pension plans.

The official committee of unsecured creditors has already said it supports giving the additional money to the pilots, Delta said.

With claims already approved in a prior settlement, retired Delta pilots and their beneficiaries will now have a total of approximately $800 million in allowed claims. The retirees and airline agreed earlier this year on claims...
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