Catherwood LibraryILR School

The remarkable turnaround of the airline industry has rewarded investors with rising share prices, and the $9.87 billion price tag that US Airways Group is offering for Delta Air Lines in a hostile takeover bid is further proof that the industry is again in favor with investors and lenders. With most of the industry returning to profitability ? in part by extracting billions of dollars of pay cuts from workers ? pilots are demanding that they should recoup some of the pay and other benefits they gave up in recent years and share in the improved fortunes. The pilots? agenda is playing an important role in the merger talks over Delta. The Delta pilots have backed management?s stand-alone plan to exit bankruptcy, and are jointly fighting the US Airways bid.