Delta, Northwest satisfied with US pension proposal

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Delta, Northwest satisfied with US pension proposal
Fri Jul 28, 2006 6:07pm ET
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[-] Text [+] WASHINGTON, July 28 (Reuters) - Bankrupt carriers Northwest Ai=
rlines (NWACQ.PK: Quote, Profile, Research) and Delta Air Lines (DALRQ.PK: =
Quote, Profile, Research) said on Friday a proposal in Congress to let them=
 make pension contributions over 17 years would help them save their endang=
ered pension plans.
Both companies have threatened to terminate pensions to save money and rest=
ructure if Congress did not act quickly to give them substantially more tim=
e to narrow the gap between pension assets and promised benefits.
Delta and Northwest sought 20 extra years to make payments to plans coverin=
g roughly 150,000 workers and retirees, but said in separate statements tha=
t the final proposal was satisfactory.
The House of Representatives was set to vote on the measure later on Friday=
 and the Senate next week. The outcome was not assured due to acrimonious n=
egotiations on the bill over the past several days.=20
=C2=A9 Reuters 2006. All Rights Reserved.
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Roger & Amanda La France 

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