Northwest Airlines must repurchase roughly $226 million of its preferred shares from employees, a judge ruled late last week. The shares were issued about 10 years ago in exchange for concessions, and Northwest had agreed to buy them back in 2003. However, that year it said it would not do so and subsequently the unions representing ground workers and flight attendants filed a lawsuit over the matter.

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.