Pension Insurer Appeals Delta’s Pact With Pilots

The government’s pension insurer appealed a Bankruptcy Court judge’s approval of the $280-million-a-year concessions pact between Delta Air Lines Inc. and its pilots.

The appeal by the Pension Benefit Guaranty Corp. was filed with the U.S. District Court in New York. In a subsequent filing, the agency questioned whether a Bankruptcy Court may approve an agreement between a debtor and one of its unions that compensates employees for losses resulting from the under-funding of their pension plan in the event of that plan’s termination.