Seems like an official merger announcement is only a question of a few weeks, if not days: http://www.reuters.com/article/marke...0080213?rpc=44
NEW YORK (Reuters) - Delta Air Lines Inc (DAL.N: Quote, Profile, Research) Chief Executive Officer Richard Anderson has told the airline's board he will waive compensation in the event of a merger.
A company spokesman said in a statement on Wednesday Anderson will "waive any accelerated compensation that he would otherwise be entitled to in the event of a merger."
"The personnel and compensation committee of Delta's board of director has accepted his offer."
News of Anderson's offer to the board was first reported in the Wall Street Journal which said he would have been entitled to "millions of dollars" after a merger.
A company spokesman said in a statement on Wednesday Anderson will "waive any accelerated compensation that he would otherwise be entitled to in the event of a merger."
"The personnel and compensation committee of Delta's board of director has accepted his offer."
News of Anderson's offer to the board was first reported in the Wall Street Journal which said he would have been entitled to "millions of dollars" after a merger.
WASHINGTON (Reuters) - Talks between pilots at Northwest Airlines Corp (NWA.N: Quote, Profile, Research) and Delta Air Lines Inc (DAL.N: Quote, Profile, Research) to reach an equity and seniority agreement they can offer to management ahead of any merger bid are moving forward but slowly, industry sources with knowledge of the discussions said on Tuesday.
There is no indication that units of the Air Line Pilots Association (ALPA), who have been meeting in New York, will not come to an agreement but the effort is complex.
"I think it will get worked out but take more time. They don't like to be rushed," said one industry consultant who has been informed about the pace of discussions.
"Each side is trying to figure out their own positions and come to a side deal. But these are major issues. It's hard to come to some quick conclusion," said an aviation attorney who consults for carriers and is knowledgeable about labor issues.
There is no indication that units of the Air Line Pilots Association (ALPA), who have been meeting in New York, will not come to an agreement but the effort is complex.
"I think it will get worked out but take more time. They don't like to be rushed," said one industry consultant who has been informed about the pace of discussions.
"Each side is trying to figure out their own positions and come to a side deal. But these are major issues. It's hard to come to some quick conclusion," said an aviation attorney who consults for carriers and is knowledgeable about labor issues.
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