Northwest Announces Tentative Agreement With Pilots

Northwest Airlines
Corporation, the parent of Northwest Airlines, today announced
that it has reached a tentative agreement with its pilots, represented by the
NWA unit of the Air Line Pilots Association International (ALPA).The agreement is subject to approval by the ALPA Master Executive Council
(MEC) and ratification by Northwest Airlines pilots.  The agreement also calls
for a satisfactory restructuring of Northwest’s $975 million revolving credit
facility, prior to contract implementation.
  The tentative agreement includes $300 million in annual labor cost savings
from the company’s pilots and its salaried workers with pilots contributing
$265 million in annual wage, benefit and other contract changes, and salaried
and management employees taking $35 million in annual salary and benefit
reductions.
  If all of the terms of the tentative agreement are satisfied, pilot and
salaried employee labor cost reductions could be effective as early as
December 1, 2004.
  Northwest currently is in contract discussions with representatives of the
International Association of Machinists and Aerospace Workers (IAM), and the
Transport Workers of America (TWU).  Preliminary contract discussions will
commence in the coming weeks with the Aircraft Mechanics Fraternal Association
(AMFA), the Professional Flight Attendants Association (PFAA), Northwest
Airlines Meteorology Association (NAMA), and Aircraft Technical Support
Association (ATSA).
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