Northwest Airlines Corp. pilots stand to receive up to $888 million worth of stock in the reorganized company as part of their union’s tentative concession deal with the airline.
The Air Line Pilots Association in March agreed to a deal with Eagan, Minn.-based Northwest that calls for about $358 million in annual wage and benefit savings. Details of the pact, which averted a potentially fatal work stoppage at the airline, are being disclosed to pilots through a video that has been posted on ALPA’s Web site.
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