Comair Union Workers to Share $68M
Monday March 26, 7:48 pm ET
By Lisa Cornwell, Associated Press Writer
Comair Union Workers to Split About $68 Million After Bankruptcy
CINCINNATI (AP) -- Comair's union employees will split about $68 million when the Delta Air Lines Inc. subsidiary and its parent emerge from bankruptcy.
Comair and Atlanta-based Delta are expected to emerge from Chapter 11 protection in May.
The unions representing Comair's pilots, flight attendants and mechanics had filed claims with the creditors' committee in U.S. Bankruptcy Court to recover some of what union members would lose through contract concessions made to Comair. The airline said it needed the concessions in order to emerge from bankruptcy and spent much of the past year and a half negotiating agreements for those concessions from all three unions.
Flight attendants will share $5.5 million, mechanics will share $750,000 and Comair's pilots will divide about $61.8 million after the airline emerges from bankruptcy.
"While this doesn't make up for what we lost, it is better for the pilots to have something that will help going forward," Paul Denke, spokesman for the Comair branch of the Air Line Pilots Association, said Monday. "It will mitigate some of the pain."
story
Monday March 26, 7:48 pm ET
By Lisa Cornwell, Associated Press Writer
Comair Union Workers to Split About $68 Million After Bankruptcy
CINCINNATI (AP) -- Comair's union employees will split about $68 million when the Delta Air Lines Inc. subsidiary and its parent emerge from bankruptcy.
Comair and Atlanta-based Delta are expected to emerge from Chapter 11 protection in May.
The unions representing Comair's pilots, flight attendants and mechanics had filed claims with the creditors' committee in U.S. Bankruptcy Court to recover some of what union members would lose through contract concessions made to Comair. The airline said it needed the concessions in order to emerge from bankruptcy and spent much of the past year and a half negotiating agreements for those concessions from all three unions.
Flight attendants will share $5.5 million, mechanics will share $750,000 and Comair's pilots will divide about $61.8 million after the airline emerges from bankruptcy.
"While this doesn't make up for what we lost, it is better for the pilots to have something that will help going forward," Paul Denke, spokesman for the Comair branch of the Air Line Pilots Association, said Monday. "It will mitigate some of the pain."
story