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Delta Pilots Accept Paycuts

I know I said yesterday that I wouldn’t write this morning unless Delta declared bankruptcy.  Well, the opposite happened, so I felt I should write about that.  Delta’s pilots agreed to $1 billion in paycuts, including 32.5% off the top and a freeze on raises until 2009.  Top pilots will see their salaries drop about $90,000.  Even with these extremely generous givebacks, Delta’s top pilots make about 80% more than JetBlue’s.  Still hard to compete against that.

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