Two retired execs endorse Delta plan
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Two retired executives from Delta Air Lines&#39; glory days endorsed current management&#39;s turnaround plans as the carrier tries this week to win deep concessions from pilots and creditors.
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ATLANTA -- Delta's official creditors committee threw its support behind the bankrupt airline's standalone reorganization plan on Wednesday, a decision that prompted US Airways to drop its hostile $9.8 billion bid to buy Delta.
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Leaders of Delta Air Lines (DAL:NYSE - news - research) pilots union have approved a tentative package of concessions and will send it to rank-and-file members for a vote.
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Delta Air Lines pilots ratified $1 billion a year in pay cuts and other concessions that have become the linchpin of the company&#39;s efforts to keep from spiraling into bankruptcy.
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ATLANTA -- The battered shares of Delta Air Lines Inc. surged nearly 9 percent yesterday after its pilots agreed to salary cuts to try to help the ailing carrier avoid bankruptcy, but their new contract offers no guarantees for the company's future.
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Delta Air Lines Inc. and the Professional Airline Flight Control Association (PAFCA), the union that represents Delta&#39;s 185 flight superintendents, have reached a tentative agreement on new contract terms.
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A &quot;near unanimous&quot; majority of Lazard&#39;s formerly feuding partners have agreed to support Bruce Wasserstein&#39;s controversial plan to take the 156-year-old investment banking partnership public, according to an internal memorandum sent to the firm&#39;s partners
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Delta Air Lines&#39; pilots Thursday overwhelmingly approved a $1 billion package of concessions that cuts their pay by nearly a third but may pull the financially beleaguered carrier from the brink of bankruptcy.
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Chief executives of Delta Air Lines  Inc.  and US Airways Group Inc.  pressed  Congress on Wednesday on their opposing views on merging their  companies, congressional officials said.
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Retired Delta Air Lines Chief Executive Leo Mullin, who still lives in Atlanta, will be spending more time in New York City serving as senior adviser to the private equity group at Goldman Sachs.
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Pilots at Delta Air Lines Inc. on  Thursday ratified a concession package that will save the  carrier $1 billion a year, in a move the company hopes will buy  it time to restructure outside of bankruptcy.
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Saying that bankruptcy was &quot;a real possibility,&quot; Delta Air Lines yesterday announced a sweeping plan - including up to 7,000 job cuts - aimed at keeping one of the nation&#39;s oldest carriers
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When Matthew Szulik left Red Hat abruptly for family health reasons in December, many people were scratching their heads over the company&#39;s new choice of CEO: a young executive from Delta Airlines, Jim Whitehurst. But Whitehurst&#39;s chief operating officer title at Delta and position outside of the technology industry are misleading; a peek into his past reveals a computer science degree and a passion for open source technology, not to mention a smooth operator who helped bring a struggling airline out of bankruptcy.
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Delta Air Lines Inc.'s pilots union on Tuesday directed its negotiators to work out an agreement to address the early retirement of a large number of pilots, which threatens to push the No. 3 U.S. airline into a Chapter 11 bankruptcy filing.
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The boards of directors of Delta Air Lines Inc. and Northwest Airlines Corp. were expected to vote on a combination provided their pilot unions can reach their own deal
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Delta Air Lines, in an effort to avoid filing for bankruptcy protection, is considering giving its pilots an equity stake in exchange for pay and benefit cuts, a Delta pilot spokeswoman said yesterday.
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Delta Air Lines pilots, who resisted pay cuts for three years as their employer flew ever closer to bankruptcy, have voted to slash their own compensation to save the airline.