Delta, Pilots hammer out early retirement plan.
Delta and the pilots union agreed yesterday to allow the carrier to bring pilots out of retirement on a limited basis to help deal with pilot shortages due to so many taking early retirement. In exchange the airline agreed not to terminate the pilot's pension plan before February, even if it files for bankruptcy. Delta has seen an exodus of pilots afraid they would lose their pensions if they stayed, causing a shortage of senior pilots who fly the long-haul routes. Without this concession, the airline expected to have to cancel some of its most profitable routes. The agreement allows the union to determine any time after January that no additional pilots can be employed as post-retirement pilots. These pilots will be able to collect their retirement benefits while working for the airline. The policy of allowing the pilots to retire with one day's notice was not changed. The pilots must ratify the agreement and that is expected to take several days.