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Northwest Exits Bankruptcy

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Northwest Exits Bankruptcy

Business

Northwest Exits Bankruptcy

Northwest Exits Bankruptcy

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Northwest Airlines is the last of the top five U.S. carriers to shed billions of dollars of debt and exit bankruptcy. To get back into the black, Northwest had to slash pay and benefits for its 30,000 workers. Flight attendants and pilots rallied Wednesday against the airline in Minneapolis, saying executives are profiting on their 40 percent pay cuts.

STEVE INSKEEP, host:

NPR's business news starts with another U.S. airline leaving bankruptcy.

(Soundbite of music)

INSKEEP: It's Northwest Airlines and its CEO rings the opening bell of the New York Stock Exchange this morning. Northwest is the last of the top five U.S. carriers to shed billions of dollars in debt, marking the end of a six-year slump for the airline industry. To get back into the black though, Northwest had to slash pay and benefits for its 30,000 workers. And yesterday flight attendants and pilots rallied against the airline in Minneapolis. They say that senior executives are profiting on their 40 percent pay cuts.

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