Delta Airlines Bankruptcy Filing Averted

...for now. This company is still not in good shape. I think all they've done is buy themselves a little bit of time.

After days of almost round-the-clock talks, Delta Air Lines and negotiators for the Air Line Pilots Association reached a tentative agreement calling for wage and benefit cuts. Details of the agreement were not released. But there is speculation the agreement calls for pay cuts of 30% to 35%. The agreement must still be presented to the union leadership and then to the rank-and-file for approval, and there is always the possibility it could be rejected.

(The Wall Street Journal, The Washington Post, The New York Times)