Delta Air's Revival Plan Preaches Austerity

"The people of Delta must have the opportunity to share in any success their sacrifice helps make possible," he said. "Today, the board reviewed the employee reward plans we are now developing. A combination of equity, profit sharing and incentive payouts tied to performance and productivity is being designed."

While company officials would not comment when the plan would be made public, a source close to the company said to expect a public announcement after Labor Day. For the last eight months, Delta's management has been working on the plan, which was delayed by two months after a number of key executives left the company.

This week, speculation about Delta's future has hit a fever pitch, with analysts predicting the company will stick to long-haul and international routes, while jettisoning less profitable point-to-point routes and smaller hubs. Over the last year, AMR (AMR Quote) unit American Airlines has taken similar steps, downsizing nonessential hubs like St. Louis, while adding a number of international flights, where there is no low-cost competition.