Delta Air Lines' pilots union agreed Monday to allow the struggling carrier to bring pilots out of retirement on a limited basis to deal with staff shortages that threaten to ground flights.þþThe move came after the company agreed not to terminate the pilots' pension plan before February even if it files for bankruptcy.þþThe tentative agreement must be ratified by the 7,500 active Delta pilots. The nation's third-largest airline has warned that it would have to file for bankruptcy if did not stem a wave of early pilot retirements by the end of September.þþThe agreement still does not resolve Delta's larger problem: getting the pilots to agree to $1 billion in concessions. The Atlanta-based airline has also warned of the possibility of a Chapter 11 filing if it does not get the concessions.þþDelta fears that its pilots could jump ship en masse because they are worried about their pensions amid United Airlines' threat to terminate its employee retirement plans. Several hundred Delta pilots have retired early in recent months, and more have threatened to do so, Delta Chief Executive Gerald Grinstein has said.þþThe union said there will be a ÿrandom selection processÿ for those in the post-retirement pool, which can be tapped when staffing falls to a certain level. Eligible pilots must be captain-qualified and current in certain models of aircraft.þ
Source: Chicago Tribune
