Originally Posted by
DAL4EVER
An interesting point that no one is discussing is the fact that the PBGC can go back to a company and make them resume their pension obligations that were turned over to the PBGC. DAL during bankruptcy got some five year deal with the PBGC that prevents them from coming back to Delta to do this until the end of the five year term. I believe we have around 2 1/2 years left on this. It's my understanding that if the PBGC feels DAL can resume the pensions they can force Delta's hand on this. So, the battle as I understand it is far from over.
Excellent point. I recall also that during the USAir attempted hostile takeover of Delta, Georgia's senators told USAir that "If you can afford to buy Delta, then you can afford to reinstate the pensions you terminated at USAir" and threatened to make that happen if the hostile takeover succeeded.
Funny how that subject never came up when Delta moved on NWA.
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