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BULLETIN: Delta Air Lines' Pilots Authorize Strike If Contract Rejected Apr 06
Standard & Poors, April 2006
Abstract
NEW YORK (Standard & Poor's) April 4, 2006--Members of Delta Air Lines Inc.'s (rated 'D') pilots' union today voted to authorize union leaders to call a strike if an arbitration panel permits the airline to reject the current pilot contract and impose a new, concessionary agreement. Standard & Poor's Ratings Services said the development does not affect its corporate credit rating on Delta, which is defined by the company's bankruptcy status. The arbitration panel is scheduled to rule April 15, but negotiations between the union and management are likely to continue until, and possibly after, that date. The strike vote, by an overwhelming 95% margin, heightens the risk of a strike, though it does not make that inevitable. A negotiated...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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