Air Transport World

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

Northwest Airlines pilots in early Nov. ratified a new agreement that includes a 15% pay cut and will provide the company with $265 million in annual savings over the life of the two-year contract. The deal is subject to a "satisfactory restructuring" of NWA's $975 million revolving credit facility. As part of the same accord, salaried and management employees will absorb $35 million in pay and benefit reductions. …

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