Delta to cut pension funding: reports

The Wall Street Journal has reported that Delta Air Lines is plans to stop funding a special bankruptcy-proof pension program for executives.

It also says it is to reduce some management bonuses as it strives to end a bitter debate with unions about executive compensation.

The company, currently trying to win concessions from pilots, is not planning to fully rescind the program which has cost it about $45m (€40m) so far, but it will not make the remaining payment of about $20m (€17.6m) due early next year.

Delta's Chief executive Leo Mullin acknowledged earlier this week that the company's effort to cut costs has been hurt by the pension controversy.