Delta May Give Pilots Stake in Company
Delta Air Lines Inc., seeking to reduce costs to avoid a bankruptcy filing, plans to give pilots a counterproposal Thursday that may meet the union’s request for a stake in the company, the union said.
Delta asked pilots last month for $1 billion in annual pay and benefit savings and didn’t respond to a request for equity in return.
The union expects Delta to offer stock, options or warrants when negotiators meet Thursday, Air Line Pilots Assn. spokeswoman Karen Miller said.
The company told the union it would “give a complete proposal that does address the equity issues,” Miller said.
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