"Much more remains to be done to complete the task at hand, including the resolution of labor issues with the Professional Flight Attendants Association," Northwest said Monday in a filing with the U.S. Bankruptcy Court in New York. "There is no question that the debtors should be granted an extension."
Northwest, based in Eagan, Minn., is trying to reduce annual labor costs by $1.4 billion to stem losses and exit bankruptcy protection.
The carrier has negotiated new contracts with pilots and baggage handlers that will reduce labor costs by $552 million.
The carrier filed for bankruptcy protection Sept. 14. Northwest also needs to reduce its pension obligations, restructure some of its leases and obtain financing before it can exit bankruptcy, according to Monday's filing..
Comment Preview