--------------------------------------------------
The No. 5 U.S. carrier, which filed for bankruptcy protection in September, said in a separate statement it was also seeking the court's approval to allow the new facility to be converted to permanent exit financing, securing part of the funds it will need to exit Chapter 11 reorganization.
The agreement is subject to certain legal and financial requirements, including court approval and permanent labor cost savings, it said.
The company, which is seeking $1.4 billion a year in labor cost cuts, reached a tentative agreement earlier this week with its flight attendants' union for savings of $195 million annually.
Northwest also said that under the terms of the credit agreement it must obtain a resolution of its pension funding obligations, which it has said it would consider ending if Congress did not act on a pension reform legislation by the August recess.
Comment Preview