Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Northwest Air Sees Clearer Skies


In Business This Week

NORTHWEST AIR SEES CLEARER SKIES

Is Northwest Airlines cleared for takeoff? The carrier finally may be close to a solution to its financial woes. On May 3, its two largest unions agreed to $480 million in concessions over three years in exchange for 15% of the company's common equity and one seat each on its board, say informed sources. Now the troubled carrier hopes the Air Line Pilots Assn. will agree to 10% of the carrier's equity in exchange for some $100 million in wage cuts. If that flies, Northwest could reach its target of $300 million a year in savings, possibly allowing it to reschedule its debt and avoid bankruptcy.EDITED BY JULIE TILSNER


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus