CoATP
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Northwest reaches deal with pilots
Bankrupt airline says it will save the company $358 million a year, averts strike
March 3, 2006: 4:40 PM EST
NEW YORK (CNNMoney.com) - Northwest Airlines reached a tentative deal with its pilot union Friday that it said would save the bankrupt airline $358 million a year, according to a company statement.
The airline said the deal still need to be approved by the union's leaders and the union membership at large.
The deal averts a possible strike at the airline, which is trying to wrangle $1.4 billion in savings from it's employees. The airline said it needs to find a total of $2.5 billion in costs cuts to return to profitability.
Northwest (Research) reached a tentative deal with its flight attendants Wednesday. It also has a tentative agreement with its ground workers union.
Northwest said in its statement that, in addition to savings from labor cuts, it is saving money by resizing its aircraft fleet and overhauling its finances.
Anyone have details?
Bankrupt airline says it will save the company $358 million a year, averts strike
March 3, 2006: 4:40 PM EST
NEW YORK (CNNMoney.com) - Northwest Airlines reached a tentative deal with its pilot union Friday that it said would save the bankrupt airline $358 million a year, according to a company statement.
The airline said the deal still need to be approved by the union's leaders and the union membership at large.
Northwest (Research) reached a tentative deal with its flight attendants Wednesday. It also has a tentative agreement with its ground workers union.
Northwest said in its statement that, in addition to savings from labor cuts, it is saving money by resizing its aircraft fleet and overhauling its finances.
Anyone have details?
