This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Delta Pilot Leader Cites Pay Gains

ATLANTA ( TheStreet) -- Declaring that "anger is not a strategy," the chairman of the pilot's union at Delta (DAL - Get Report) laid out his vision of airline/pilot relations in a letter to union members Thursday.

Lee Moak, chairman of the Delta chapter of the Air Line Pilots Association, noted that on Jan. 1, the carrier's pilots will get a 4% raise. The raise marks a milestone, he said, because it will mean that, for the first time, "pay rates will be above those that were in place when Delta filed for bankruptcy protection in 2005," five years ago this month.

In addition, Moak noted, contract improvements that take effect Jan. 1 also mean that Delta's contribution level to the pilots' retirement plan will increase to 13%.

The main point of Moak's letter is that for pilots to win, airlines must win too. In a dramatic change that has taken place during 2010, that philosophy has come to dominate pilot thought in the airline industry, particularly as contentious, conflict-driven union leadership teams have been replaced at United (UAUA) and more recently, at American (AMR), where Dave Bates took over in July as president of the Allied Pilots Association.

In his letter, Moak summarizes his approach, quoting Sun Tzu, an ancient Chinese warrior and author of The Art of War, as saying: "It is the unemotional, reserved, calm, detached warrior who wins, not the hothead seeking vengeance and not the ambitious seeker of fortune."

"Even with continued economic uncertainty, Delta may finally be tracking in the right direction," Moak wrote. "Our airline posted a record profit last quarter, and analysts are predicting a solid third-quarter performance as well. Block hours are increasing, we are hiring pilots and barring some major Black Swan event, profit sharing is on the horizon for the first time since 2007."

-- Written by Ted Reed in Charlotte, N.C.

>To contact the writer of this article, click here: Ted Reed

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DAL $41.67 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs