Talking to a couple of Delta Pilots tonight, they are  definitely not happy with the agreement, but all expect it to be ratified as the alternatives would be much worse. As a group, only the most junior pilot could expect to earn the income they were making at Delta elsewhere flying, if there was a job available for them.

From USA Today

Delta Air Lines (DALRQ) said Sunday night that it had reached a tentative agreement with the Air Line Pilots Association to cut pilots pay, avoiding a potential showdown in Delta’s bankruptcy case over the air carrier’s effort to impose steeper pay cuts.

Subject to pilot ratification by Dec. 28, Delta said the tentative agreement provides for a 14% hourly wage reduction for pilots and reductions in other pilot pay and cost items equal to about an additional 1% wage reduction.

The chief of Delta’s pilots union, Capt. Lee Moak, said in a statement that a negotiated agreement was in the best interest of the company and the company’s more than 6,000 pilots.

“With a lot of hard work and dedication, I believe we have crafted an agreement that contributes to the restructuring plan and recognizes our value to the company,” he said.

The cost reductions would be effective Thursday and would remain in effect while the two sides seek to reach a comprehensive agreement. The company and the pilots association would seek to negotiate a comprehensive agreement by March 1, with the pilots union ratification vote by March 22.

“This agreement reflects the resolve of Delta people to work together to help save the company,” Delta CFO Ed Bastian said in a statement. “We recognize and appreciate the additional sacrifice this will represent.”

More Sources

• Forbes
• Houston Chronicle
• Bloomberg
• Atlanta Journal Constitution 
• Cincinatti Enquirer
• WSB-TV