Clearly, this program in no way provides any type of enrichment opportunity for Delta's executives. In addition to the multiple and substantial pay cuts and 'no-bonus, no-incentives' policy this management team has adopted in light of the company's current financial circumstances, the limited scope of this modest severance proposal demonstrates our commitment to the principles of shared sacrifice and to breaking with past practices to do things differently. |
Delta was not -- as is often done in Chapter 11 -- seeking a new or enhanced program. To combat a problem that can interfere with its successful restructuring, Delta responsibly sought to reinstate coverage for the sole remaining group of employees without it. This program is far more conservative than those at other carriers and companies both in and out of Chapter 11. |