AIRLINES

Delta Chairman Warns of Post-Holiday Pay Cuts: Delta Air Lines employees may face post-holiday pay cuts as the carrier’s financial slump continues, its chairman said. While officials of the Atlanta-based airline said no decision has been made, Chairman Ronald W. Allen issued a clear warning in the latest edition of the company’s internal newspaper, the Dispatch. Allen said layoffs will be a last resort as a cost-cutting tactic. The company employs nearly 80,000 workers and has posted a record loss of $506 million for fiscal 1992.