Delta reaches cost-cutting deal with pilots

After days of intense negotiations, Delta Air Lines and its pilots union reached a tentative agreement that the airline says will save it $1 billion a year.

The agreement, which must be ratified by Delta's rank-and-file pilots, may help the carrier avoid filing for bankruptcy. Details of the agreement were not disclosed, but some reports say it would cut pilot pay by about one-third.   Journal and Constitution (Atlanta) (free registration) (10/28),   The New York Times (free registration) (10/28),   The Wall Street Journal (subscription required) (10/28)