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Delta and Northwest Face Cash Crunchet up in the next

Delta and Northwest both shared bad news yesterday about their financial positions.

Delta said that they will have liquidity issues for the next 2 years, but they will avoid bankruptcy at all costs.  As their CEO said, 140 airlines have gone into Chapter 11, and only 2 have emerged. That’s Continental and America West if you’re counting.

Meanwhile, Northwest said that it needs additional pay cuts from labor, which at this point should put the starting flight attendant salary at about $723 a year.

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