Delta Offers Retired Pilots $440M In Claims

Law360, New York (January 26, 2007, 12:00 AM EST) -- Delta’s retired pilots have agreed to accept $440 million in unsecured claims from the airline in a settlement to compensate them for lost medical benefits.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Delta sought approval of the settlement which resulted from agreed modifications to the retirees’ health plan.

The settlement has already met with the approval of the Official Committee of Unsecured creditors.

The calculation of the $440 million worth of claims was based on the...
To view the full article, register now.