In Business This Week
PILOTS BUOY NORTHWEST AIRLINES
Back in the U.S., Northwest Airlines is making strides toward getting its financial act together. The carrier's 5,600 pilots have all but agreed to "invest" $ 300 million in Northwest over three years. That investment, say sources close to the union, will probably take the form of pay cuts totaling $ 100 million annually rather than work-rule concessions. The union isn't ruling out demanding equity in exchange for its move and may also ask for a seat on the board of directors.
Northwest next will seek concessions from its mechanics and flight attendants. The carrier, with more than $ 4 billion in debt, has made other recent cost-cutting moves, including deferring delivery of 10 A330 planes from Airbus Industrie.EDITED BY HARRIS COLLINGWOOD