Air Transport World

Northwest Airlines.(North America report)(Brief Article)

Northwest Airlines and negotiators for its pilots union announced a tentative agreement that if ratified will provide the airline with $265 million in annual savings from the pilot group. As part of the agreement, NWA management and salaried employees will accept $35 million in annual salary and benefit reductions, bringing the total savings to $300 million. The agreement "also calls for a satisfactory restructuring of Northwest's $975 million revolving credit facility, prior to contract implementation."

The agreement came less than two weeks after CEO Richard Anderson said he would resign from the airline effective Nov. 1 to become executive VP of United Health Group, a health care insurer. …

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