Monday, August 11, 2008

Delta and Northwest Pilots Approve Joint Collective Bargaining Agreement

Delta Air Lines (NYSE: DAL) today confirms that pilots from Delta and Northwest Airlines have voted to approve a joint contract, the terms of which will be applicable to both pilot groups upon closing of the Delta-Northwest merger, expected later this year.

Delta CEO Richard Anderson issued the following statement in response:

“Approval of a joint contract that will cover both pilot groups immediately upon closing of the merger is an historic milestone in creating the world’s premier global airline and we are pleased that pilots from both airlines chose to take this important step to unify the pilot group. Today’s ratification is a testament to the diligent efforts of ALPA’s leadership working together with its members, Delta and Northwest.”

Delta in April announced that it is combining with Northwest in an all-stock transaction to create America’s premier global airline. The new company will be called Delta and will be headquartered in Atlanta. Combined, the company and its regional partners will provide customers access to more than 390 destinations in 67 countries. Together, Delta and Northwest will have more than $35 billion in aggregate annual revenues, operate a mainline fleet of nearly 800 aircraft, employ approximately 75,000 people worldwide, and have one of the strongest balance sheets in the industry. The merger is subject to the approval of Delta and Northwest shareholders and regulatory approvals, which are expected to be completed later this year.

Delta Air Lines operates service to more worldwide destinations than any airline with Delta and Delta Connection flights to 312 destinations in 61 countries.
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