NWA presents new offer to mechs
 

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Report: NWA presents new offer to mechanics
Wednesday August 17, 6:32 pm ET

Northwest Airlines Corp. made a new contract offer to its mechanics union on Wednesday, the Star Tribune reported.

A spokesman for the Aircraft Mechanics Fraternal Association said the Eagan-based airline had presented a new offer, but declined to comment on specifics.

Via telephone, a spokeswoman for Northwest said the airline was not the source of the reported contract offer and would not comment further.

The two sides continued to negotiate Wednesday in an effort to avert a strike, which could come as soon as 11:01 p.m. Thursday, when a federally mandated cooling-off period ends.

Northwest, which is seeking $1.1 billion in labor savings, has asked its mechanics to take job and pay cuts.

Meanwhile, Northwest shares climbed more than 7 percent Wednesday on falling crude oil prices.

A barrel of light crude was down $2.78, or about 4.2 percent, to $63.30 on the New York Mercantile Exchange.

Northwest (Nasdaq: NWAC - News) shares closed up 35 cents, or 7.5 percent, at $5