
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, July 7, 1993                   TAG: 9307070113
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE: MINNEAPOLIS                                LENGTH: Short

NORTHWEST, PILOTS OK OWNERSHIP DEAL

Northwest Airlines and its 5,400-member pilots' union agreed Tuesday on a three-year deal that would give workers up to 37.5 percent ownership of the company.

The 25-member master executive council of the Air Line Pilots Association approved the pact 24-1.

But bankruptcy remains a possibility as the deal's prospects remain uncertain. The company's five other unions also must sign.

Northwest still withheld millions in payments to vendors and its monthly payment to more than 50 banks that backed its 1989 leveraged buyout, sources said.

- Knight-Ridder/Tribune

by CNB