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BULLETIN: Delta Air Lines Reaches Pilot Settlements Jun 01
Standard & Poors, June 2001
Abstract
Corporate credit rating: BBB-/Negative/- Delta Air Lines Inc. and its Comair Inc. subsidiary both reached settlements with their respective pilots, who approved new contracts over the past several days. Standard & Poor's ratings and outlook on Delta are not affected. The Delta pilot agreement boosts pay substantially, to slightly above United Air Lines Inc.'s expensive contract signed in 2000, but maintains Delta's competitive advantage versus most other large airlines in deploying regional jets and operating a low-cost unit, Delta Express. The new contract at Comair settles a bitter strike that has grounded that airline since late March 2001. The resulting contract includes large percentage pay increases, but is much closer to the terms suggested by the National Mediation Board and...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: S&P Event
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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