NYT: Delta, Northwest may seek protection today (Wed.)

http://seattlepi.nwsource.com/business/240571_airlines14.html?dpfrom=thead

By MICHELINE MAYNARD
THE NEW YORK TIMES

Two of the nation's biggest and most troubled airlines, Northwest and Delta, appeared likely to file for bankruptcy protection as soon as today, people briefed on the airlines' plans said Tuesday. Both airlines have been hit hard by the spike in jet fuel prices this month and by relentless competition in the industry.

A bankruptcy filing by Northwest and Delta would mean that four of the seven major airlines -- the others are United and US Airways -- would be operating under court protection. Counting several smaller carriers, that would mean that half the seats available on flights in the United States were operated by bankrupt airlines, according to an estimate by Standard & Poor's Ratings Services.

... And if the experience at the other major airlines in bankruptcy is a guide, workers at Northwest and Delta can expect significant job cuts, reductions in wages and benefits and the end of traditional pension plans.

Both companies were finalizing their bankruptcy plans on Tuesday. Officials at each airline said a final decision had not been made to seek Chapter 11 protection.

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The race to the bottom continues with this giant step.

NW took advantage of loopholes to avoid contributing to their pension funds and now have unfunded liabilities. Once again, the line worker that puts his/her life into their job with the expectation of a decent retirement will get screwed.

Wednesday September 14, 8:51 am ET

Delta and Northwest Airlines May Head to Bankruptcy Court on the Same Day After Years of Losses

Two of the nation's biggest carriers, Delta and Northwest, could head to bankruptcy court the same day after years of losses and fuel costs that have wrecked their weak finances even further after Hurricane Katrina.

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They are absolutely terrible.

</SARCASM>

But then again, maybe not. This is a classic Union busting tactic; declare bankruptcy, reorganize, and say, "well ge whiz, we have to ask our Union people to take a pay cut, have reduced benefits, etc." Or just say the hell with it and hire new people altogether at new(reduced) wages. I have lived through something similar to this, so I have an idea what I'm talking about.

and I get to see it microscopically close.
Like someone said above, quit whining and just frickin "do it, already"
Same story, different day. We know the CEO's (at NWA) want the employees to pay the fuel bill.
So, the employees who swallow the cuts and stay are possibly forced into looking for a second income.
I have polished my resume' but, after job searching, how do you choose a company that won't possibly outsource?? Big question.

The only jobs they can't export to India Etc are cleaning toilets right here in amerika.

means severe pay cuts. Job market in the USA is very sparse and underpaid.

Now that the door has been opened to this, nobody is safe. I hope it doesn't spread to Canada.

"Be sure to check out the new delta.com for all your travel needs." First class commercial in prime time. I thought it was kind of a strange thing to do the day before bankruptcy and share price dropping 25%.