NWA pilots to get 2.4 percent equity in new Delta
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(AP) - Northwest Airlines pilots stand to get a nearly 2.4 percent equity stake in Delta Air Lines after the combination of the two companies is completed.
That's one of several details revealed in a summary of a joint contract agreement reached between pilot negotiators from both carriers.
The summary provided to Delta pilots on Monday says the agreement also calls for compounded raises for pilots of over 18 percent over four years.
The deal calls for Northwest pilots to receive a 2.38 percent equity stake in the new Delta. Current Delta pilots would receive a 3.5 percent equity stake.
Current Delta pilots would get a larger stake in the airline because there are more of them. There are about 5,000 Northwest pilots while 7,000 fly for Delta.
Rank-and file Delta and Northwest pilots still must approve the joint collective bargaining agreement.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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