Airlines
Delta Air Lines Inc. employees must make sacrifices to help the carrier survive, and pilots cannot be an exception, a lawyer for the nation's No. 3 airline told a panel of arbitrators. The airline is seeking to impose up to $325 million in long-term pay and benefit cuts
Airlines
Qantas, the Australian flag carrier, is bracing for a potential industrial showdown with its unions over a plan to send maintenance work offshore, which could potentially disrupt the Commonwealth Games. The Australian Manufacturing Workers' Union (AMWU) has warned the company against slashing 2,500 Australian jobs and sending work
Airlines
Qantas passengers, including those traveling to the Commonwealth Games, may experience delays due to industrial action by maintenance workers. The workers, represented by the Australian Manufacturing Workers Union (AMWU) and the Australian Workers Union (AWU), will start a work-to-rule industrial action on Thursday. The action is in response to Qantas&
Airlines
The economy is expanding, with some regions experiencing rapid growth, but not all sectors are benefiting equally. In the United States, personal spending rose 0.9 percent in January, driven by warmer weather in the Northeast. However, incomes lagged behind, causing Americans to dip into their savings. The housing market
Airlines
Northwest Airlines and Delta Air Lines, the nation's third- and fourth-largest carriers, are in a critical phase of negotiations with their respective pilots' unions. The talks, which have been ongoing for weeks, have reached a boiling point as both airlines seek to impose pay cuts and work
Airlines
Delta Air Lines has obtained court approval for a "modest" severance program that will apply to top managers who are laid off during the carrier's bankruptcy reorganization. The program, which covers 144 people, includes severance pay of six to 12 months' salary, which is reportedly
Airlines
Delta Air Lines' decision to renegotiate its jet leases has sent shockwaves through the financial markets, with its bonds trading up significantly last week. The move, estimated to save the company $200 million per year, has also positively impacted its equipment trust bonds and bonds backed by aircraft. Meanwhile,
Airlines
The Allied Pilots Association (APA), the collective bargaining agent for American Airlines pilots, has expressed support for the pilots of Northwest Airlines and Delta Air Lines in their labor disputes. The APA issued a statement commending the determination of the pilots at these airlines to fight against further cuts and
Airlines
Delta Air Lines, Inc. announced that the U.S. Bankruptcy Court for the Southern District of New York has granted approval for certain aircraft lease transactions, resulting in approximately $200 million of annual savings for Delta. This significant cost reduction is a crucial element in the company's business
Airlines
Delta Air Lines has been allowed to continue using money from a disability and survivor trust fund for other expenses, a decision that has left some retirees worried about their benefits. The judge, Adlai Hardin, denied a request by a court-appointed retiree committee to have the airline negotiate with them
Airlines
Retired Delta Air Lines Inc. pilots will gain a more significant role in the airline's Chapter 11 restructuring process, following a court ruling that could potentially complicate the bankruptcy proceedings. The decision, announced by U.S. Bankruptcy Judge Adlai Hardin, mandates the formation of a second retiree committee
Airlines
UPS has officially opened its expanded package-sorting hub in Germany after 2 1/2 years of construction. The facility, located at the Cologne/Bonn airport, has increased its capacity to nearly 110,000 packages per hour, thanks to the installation of automated technology. This represents a significant expansion from the
