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Northwest Airlines gets $280 million for Worldspan

Northwest Airlines gets $280 million for Worldspan

 
Old Jul 3, 03, 11:08 am
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Northwest Airlines gets $280 million for Worldspan

http://www.startribune.com/stories/535/3966885.html

Northwest Airlines said Tuesday that it received $280 million for selling its share of the Worldspan reservation system, but that infusion of cash won't deter the airline from pushing aggressively for labor concessions.

The Eagan-based carrier has lost $1.6 billion since early 2001 and has a substantial debt load. The Worldspan sale improves the airline's cash position in the short-term, but Northwest's top management continues to seek labor cost cuts approaching $1 billion.

Northwest owned 34 percent of Atlanta-based Worldspan, a travel technology company, and will get an unspecified number of credits for future services from Worldspan. The airline released a brief statement Tuesday, and declined to comment further on the impact of the sale.

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