Delta Seeks Concessions on Pilots’ Pension Plan
Delta Air Lines Inc. is seeking changes in its pilots’ pension plan as part of a request for concessions to save $1 billion annually and avoid a bankruptcy filing, Chief Executive Gerald Grinstein said.
Grinstein told the Delta Air Line Pilots Assn. in a letter that changing the pension would help the company become viable while preserving benefits. Spokeswoman Peggy Estes declined to provide details on the proposed changes.
The union said the company proposal fell short of its expectations.
Shares of Delta slipped 4 cents to $5.19 on the New York Stock Exchange.
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