Delta Air Lines' pilots' union ratifies bankruptcy restructuring agreement

By Caroline Salls

Pittsburgh, April 24 - Delta Air Lines, Inc.'s pilots' union voted to ratify the company's bankruptcy restructuring tentative agreement, moving it to the pilot membership for a vote in late-May, according to a union news release.

According to the release, union membership voting will begin in mid-May and continue through the end of the month.

The union said it believes this agreement provides Delta with the relief it needs to successfully restructure, while providing the pilots with enhanced job security and the potential to share in the company's future success as it emerges from bankruptcy.

Union chairman Captain Lee Moak said in a letter to the Delta pilots on Friday that the goal of the pilots throughout the Chapter 11 process was to, "reach a 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."

Delta, an Atlanta-based airline, filed for bankruptcy on Sept. 14, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-17923.

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