Delta Air Lines
said Wednesday its 185 flight superintendents have approved a new contract including 10% wage cuts.
In a news release, Delta said the flight superintendents, who are represented by the Professional Airline Flight Control Association, ratified the new five-year contract. Ninety-five percent of those voting supported it, the release said.
The announcement comes on the eve of the deadline for the company's pilots to vote on a package of wage and benefit concessions expected to save the airline $1 billion a year. The package includes a 32.5% cut to pilots' base pay, a 16% reduction in vacation pay and the freezing of pilots' defined-benefit pension plan at the end of this year. Pilots would receive a 401(k) plan beginning at the start of next year.
Delta racked up a huge third-quarter loss and is bleeding cash in an environment of record-high fuel prices, overcapacity and tough price competition that has hurt all U.S. network carriers. The nation's third-largest airline is desperately seeking to lower its costs and restructure some of its $20.6 billion in debt. Delta has warned repeatedly that it could be forced to file for Chapter 11 bankruptcy protection.
The company's shares finished Wednesday's session down 17 cents, or 2.7%, at $6.08.