LYCOS RETRIEVER 
Delta Airlines: Carriers
built 632 days ago
In 1987, Delta merged with Western Airlines of Los Angeles and absorbed its large hubs at Salt Lake City and Los Angeles. Through these acquisitions and expansions Delta became the fourth largest U.S. carrier and fifth largest world carrier. Also in 1987, Ronald W. Allen became chairman and CEO.
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A group that represents some retired Delta pilots asks a bankruptcy court judge to reject the carrier's latest wage concession agreement with its pilots union. The Delta Pilots' Pension Preservation Organization said that if the agreement reached last month is approved, it would set the stage for drastically reducing certain pension benefits of the airline's 5,800 retired pilots. A hearing is scheduled for May 31 -- the same day Delta's active pilots are scheduled to complete their voting on the agreement.
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On November 14, 2007, Pardus Capital Management LP, a hedge fund that owns 7 million shares of Delta and 5.6 million shares of United, called for the two carriers to merge. This action sent shares of both airlines up. However, the two airlines quickly denied official talks of any merger.[49] [50] [51]
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Delta Air Lines files a five-year reorganization plan with the bankruptcy court that calls for it to emerge from Chapter 11 as a stand alone company. The carrier says it has rejected Tempe-based US Airways' unsolicited offer to buy Delta in a hostile bid now worth $8.4 billion.
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