Manufacturing Industry
Delta pilot retirees to argue for representation in bankruptcy proceedings
Airline Industry Information, Sept 27, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Delta Air Lines' retiree benefits issue is to be argued at a scheduled hearing in the bankruptcy court on 6 October.
The Delta Pilots' Pension Preservation Organization is reportedly set to try to get the court to approve a committee to represent retired pilots, after Delta cut some pension payments on the first day of bankruptcy. The airline has said that it will send warning letters to some retired pilots stating that the company will miss their October pension payments. Delta's lawyer Marshall Huebner said that letter is only to be sent to pilots who are above a certain level of salary, Reuters reported.
By missing the October minimum contribution to pensions, Delta may also be setting up for an involuntary takeover of the pension plans by the Pension Benefit Guaranty Corporation.
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