Northwest and Delta Satisfied with Pension Proposal

Northwest Airlines and Delta Air Lines are content with a proposal from the United States Congress that would give them 17 years to fully fund the pensions of their employees.

According to Reuters, both airlines had said that they would terminate the pensions to save money and restructure under court protection unless Congress acts to give them more time.

Delta and Northwest had reportedly sought 20 extra years to make payments to accounts covering workers and retirees, but found the proposed 17 years to be satisfactory.

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