MINNEAPOLIS -- Pilots for Northwest Airlines Corp. said Thursday that negotiators have agreed to $265 million in concessions. As part of the tentative agreement, Northwest managers agreed to $35 million in concessions of their own.þþUnion leaders still must vote on whether to recommend the two-year proposal to pilots.þþNorthwest has been seeking labor concessions worth $950 million a year, and the pilots were the first group to negotiate. The airline has lost $2.1 billion on operations since the beginning of 2001.þþThe union said last week the airline wanted to reach an agreement as part of renegotiating a revolving credit agreement that expires in October 2005.þþAir Line Pilots Association spokesman Will Holman said union leaders were reviewing the plan in Hollywood, Fla. They could vote on it anytime between Thursday and the end of the meeting on Sunday, he said. If approved, it would be sent to pilots for a vote.þþ
Source: Chicago Tribune
