Delta and Northwest pilots approve agreement
Pilots at Delta and Northwest have approved a joint collective bargaining agreement, clearing one hurdle on the path to a friendly merger.
The new agreement covers approximately 12,000 pilots between the two airlines, and gained support of over 60 percent of Delta’s pilots and 86 percent of Northwest’s pilots. The agreement will take effect when the merger between the two airlines is completed. The merger is expected to close by the end of this year.
Shares of Delta are trading up over 5 percent on news of the agreement.
BTW, news of an upgrade from JP Morgan has helped other airline stocks rise today.
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