A discussion about the airline industry, airline employees, and all things related

Delta and the Air Line Pilots Association say they expect talks to continue after Wednesday. Some analysts predict the union will eventually settle rather than risk having Delta's terms imposed or shutting down the airline in a strike. "Unions always talk tough but usually cave," said CreditSights analyst Roger King in a recent report.

Still, the latest deadline raises the prospect of another drawn-out drama this spring, following a bankruptcy court clash that produced a temporary deal in December and a cliff-hanger in 2004. It ended with a $1 billion-a-year concessions deal that enabled Delta to put off bankruptcy for a year.

The latest chapter surrounds a long-term deal that would supersede the temporary December pact. That deal cut pilot wages 14 percent but set a March 1 deadline for the broader agreement, and set up the arbitration process if the deadline is missed.

Under that process, a three-member panel has until April 15 to hear the two sides' cases and decide whether to reject the union contract. If the panel voids the contract, Delta could impose more than $300 million in concessions, including up to a 19 percent pay cut that it says is critical to its Chapter 11 survival effort.