Delta pilots agree to 14% hourly pay cut

Delta Air Lines pilots have ratified an interim agreement drawn up by management and the Air Line Pilots Association (ALPA) that includes a 14% hourly pay cut that will save the company about 143 mln dollars annually.

Pilots also voted in favour of other reductions equivalent to about an additional 1% in pilot pay.

Under the terms of the agreement, Delta and ALPA have pledged to negotiate a final deal by March 1.

“Given the critical nature of our financial situation, this provides much needed financial relief while we seek to reach a comprehensive agreement with ALPA,” Delta Chief Executive Gerald Grinstein said in a statement.