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Delta Union Tentatively Approves Agreement

The Delta Air Lines pilot union has signed a tentative agreement which includes wage cuts and offers up the company pension plan as a sacrifice. Leaders of the union ratified the agreement, 12-1, and now ask the 5,930 pilots themselves to approve it. Lee Moak, chairman of the union?s executive committee, says the deal is "a concessionary agreement."

The agreement includes an initial 14 percent wage cut, as well as assurances the union won?t block any effort by America`s third-largest carrier to terminate its pension plan. According to union officials, now pilots will begin voting in May, for a period of 15 days.

Moak says, "Our goal throughout the Chapter 11 process has been to reach a comprehensive consensual agreement that will lead to our working for a profitable airline with long-term viability that protects the major terms of our contract and that provides strong returns for our sacrifices. I believe this agreement meets that goal."