12/7/2006, 6:05 a.m. CT
The Associated Press
ATLANTA (AP) — Delta Air Lines' pilots union plans a massive rally against U.S. Airways' hostile takeover bid and said it will lobby Congress to block the deal.
U.S. Airways says it won't back down, and its shares rose sharply yesterday.
The entrenched positions were voiced as Atlanta-based Delta put the finishing touches on a reorganization plan that proposes exiting Chapter Eleven as a standalone company. The plan is to be filed later this month.
The chairman of the union's executive committee, Lee Moak, said the union's governing body passed a resolution Tuesday night opposing the U.S. Airways buyout.
Delta's chapter of the Air Line Pilots Association is a member of the unsecured creditors committee that has a major role in deciding whether the buyout offer goes through. Moak said the union will hold an opposition rally near Atlanta a week from today where it hopes to gather more than a thousand pilots.
The Associated Press
ATLANTA (AP) — Delta Air Lines' pilots union plans a massive rally against U.S. Airways' hostile takeover bid and said it will lobby Congress to block the deal.
U.S. Airways says it won't back down, and its shares rose sharply yesterday.
The entrenched positions were voiced as Atlanta-based Delta put the finishing touches on a reorganization plan that proposes exiting Chapter Eleven as a standalone company. The plan is to be filed later this month.
The chairman of the union's executive committee, Lee Moak, said the union's governing body passed a resolution Tuesday night opposing the U.S. Airways buyout.
Delta's chapter of the Air Line Pilots Association is a member of the unsecured creditors committee that has a major role in deciding whether the buyout offer goes through. Moak said the union will hold an opposition rally near Atlanta a week from today where it hopes to gather more than a thousand pilots.
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