FOR IMMEDIATE RELEASE
October 28, 2004
Delta Pilots' Union Leadership Ratifies Tentative Agreement on Cost Savings; Forwards to Membership for Approval
HERNDON, VA -- Today, the Delta Master Executive Council (MEC), a unit of the Air Line Pilots Association (ALPA), ratified a tentative agreement that, if approved by the pilot membership, will provide Delta with $1 billion in annual cost savings, including a 32.5 percent wage reduction. The agreement resulted after a week of intense around-the-clock negotiations.
"This tentative agreement is a major contribution by the Delta pilots to help our company restructure," said Capt. John Malone, Delta MEC Chairman. "Reaching an agreement outside of bankruptcy court allows the pilots to have some control over any changes to our contract. While there are no guarantees that a bankruptcy filing will not occur at some point, this tentative agreement will hopefully buy Delta additional time to continue its out of court restructuring efforts."
The ballot for membership ratification will open on November 1, 2004, and close on November 11, 2004.
Contacts: Karen Miller and Chris Renkel, 404-763-4925 or email@example.com