Gloomy day at Atlanta airport as employees react to pay cuts KRISTEN WYATT Associated Press ATLANTA - Investors may have cheered Tuesday's news that Delta Air Lines would cut many staffers' pay 10 percent in hopes of avoiding bankruptcy, but the mood was decidedly different among Delta employees, who doubted the move would prevent Chapter 11 - but were sure it would put their finances in a pinch. On an overcast day at Atlanta's airport, Delta's hometown, employees were as gloomy as the runway vistas through the windows. One check-in agent, who said she'd "get in big trouble" if her name were printed, learned she's take home $200 less each month, plus owe $200 a month more in health insurance costs. On a $40,000 annual salary, the pinch will be felt immediately, she said. "We're basically just making it," she said. "The only reason it's OK is because my husband is the breadwinner." Delta, the nation's third largest carrier, announced Tuesday that the pay of all executives, administrative staff and ticket and gate agents would be cut, and that they'd have to share more of the cost for health insurance. Retirement benefits and vacation maximums were also trimmed. Chief executive Gerald Grinstein said he'd share in the cost-cutting, forgoing his salary for the rest of the year. "In distressed times like these, when everyone must sacrifice, it is especially important that leadership participates," Grinstein wrote in a memo to employees. The cuts don't apply to pilots, who are on a separate union contract. Grinstein said the pay cuts would help the struggling airline avoid bankruptcy. Delta has lost more than $5 billion since 2001 and has racked up $20 billion in debt because of higher fuel prices and competition from low-cost airlines. Investors liked the pay-cut plan, sending Delta's stock up 40 cents, or more than 13 percent, in trading Tuesday on the New York Stock Exchange, closing at $3.34. The stock rate climbed to $3.37 by midday Wednesday. Employees weren't so sure the pay cuts would do any good. When asked whether the pay cuts would allow Delta to avoid Chapter 11, the check-in agent replied, "No." Then a manager hustled up to say no employees were allowed to talk to reporters, and the interview was over. Longtime Delta customers weren't nearly as tight-lipped. Several Delta passengers interviewed said the pay cuts would only hurt morale and worsen customer service, not save the airline. "It's always a bad idea to cut people's jobs because you want to make more money," said Ishmail Daoud of Spring Hill, Fla., who was waiting outside the check-in area and said he flies Delta at least twice a year. Another Florida traveler, Lisa Loewenberg of West Palm Beach, said she didn't believe Delta would file bankruptcy and that the pay cuts weren't needed. "They work hard like everybody else does" she said. A few said the pay cuts, and Delta's looming bankruptcy, are unavoidable. "I think it's a step in right direction, but I don't think they'll be able to avoid bankruptcy," said Tim Easterday of suburban Buford. "You can't just sit back and wait for (bankruptcy) to happen. You've got to do something." Another Delta flier, Woody McClendon of Canton, Ga., applauded Grinstein's move to cut his own pay, too. "It's not a big deal for him, cause he's a millionaire. But it's a symbolic gesture, and that's good," he said. Roger EWROPS