ATLANTA, Dec. 11, 2005 (PRIMEZONE) — Basin Air Lines, Inc. (Pink Sheets:DALRQ) accepted today that it has accomplished a acting acting acceding with the Air Line Pilots Association, International (ALPA), the aggregate acceding adumbrative of the company’s added than 6,000 pilots.
Subject to pilot acceptance by no after than December 28, 2005, the acting acting acceding provides for a 14 percent alternate allowance abridgement and reductions in added pilot pay and amount items agnate to about an added one percent alternate allowance reduction. The acting amount reductions would be able December 15, 2005 and would abide in aftereffect while the parties seek to ability a absolute agreement. The aggregation and ALPA would seek to accommodate a acting absolute acceding by March 1, 2006, with pilot associates acceptance by March 22, 2006.
“This acceding reflects the dness of Basin bodies to assignment calm to advice save the company. We admit and acknowledge the added cede this will represent,” said Ed Bastian, Delta’s arch banking officer.
Basin and ALPA will appeal that the Bankruptcy Court append the audition on the company’s motion to adios the absolute Delta-ALPA aggregate acceding acceding pursuant to area 1113 of the U.S. Bankruptcy Code, awaiting the acceptance action for the acting acting agreement.
Basin has said that accomplishing added anniversary pilot activity amount reductions is an important aspect of its restructuring plan. The restructuring plan calls for an added $3 billion in anniversary amount reductions and acquirement improvements to be accomplished by the end of 2007. The $3 billion advance ambition is in accession to the about $5 billion in anniversary banking allowances the aggregation says it is on clue to bear by the end of 2006, as compared to 2002.
Basin Air Lines (Pink Sheets:DALRQ) is the world’s second-largest airline in agreement of cartage agitated and the arch U.S. carrier beyond the Atlantic, alms circadian flights to 505 destinations in 93 countries on Delta, Song, Basin Shuttle, the Basin Connection carriers and its common partners. Delta’s business alliances acquiesce barter to acquire and redeem common flier afar on added than 14,000 flights offered by SkyTeam and added partners. Basin is a founding affiliate of SkyTeam, a all-around airline accord that provides barter with all-encompassing common destinations, flights and services. Barter can analysis in for flights, book boarding passes and analysis flight cachet at delta.com.
This columnist absolution contains assorted advanced statements which represent the company’s estimates or expectations apropos approaching events. All advanced statements absorb a cardinal of risks and uncertainties that could account the absolute after-effects to alter materially from the projected results. Added advice is independent in Delta’s Securities and Exchange Commission filings, including its Form 10-Q filed with the SEC on November 14, 2005. Caution should be taken not to abode disproportionate assurance on Delta’s advanced statements, which represent Delta’s angle alone as of the date of this presentation, and which Basin has no accepted ambition to update.
The Basin logo is accessible at: http://www.primezone.com/newsroom/prs/?pkgid=1825
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