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Judge Lets Delta Dump Pilots' Pension Plan

Law360 (September 5, 2006, 12:00 AM EDT) -- In a major break for Delta Air Lines Inc.’s bankruptcy plans, a bankruptcy court on Tuesday allowed the airline to dump its pilots’ defined benefit pension plan.

The plan covers more than 13,000 active and retired Delta pilots and their beneficiaries. Delta plans to establish September 2, 2006, as the effective date of termination of the pilot plan, the company said.

The next step for Delta is to seek approval for the termination of the plan by the Pension Benefit Guaranty Corp. (PBGC), the federal agency...
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