Originally Posted by
Purple Drank
Did the company grant concessions when it took from Delta pilots in bankruptcy?
In fact, they did.
- Prior to BK, they agreed to a 12% targeted DC plan in return for a soft freeze on our A plan.
- In BK, they agreed to a $2.1B stock grant upon exiting BK in return for the overall concessions we took, both before and in BK.
- In BK, they agreed to a $650 cash payment if our frozen A plan was terminated.
- In BK, they agreed to the profit sharing plan we have today (minus the 5% we gave up in C2012).
- In BK, they agreed to annual pay increases beginning January 1, 2007.
While these concessions on the part of Delta certainly did not make us whole by any means, they did help "pay" for some of the concessions we took.