Pilot Might

Today is the deadline for Northwest and Delta pilots to approve a joint collective bargaining agreement as part of the airline merger.

According to USAToday, the agreement calls for compound raises of more than 18 percent over four years. Northwest pilots would give a 2.38 percent equity stake in the new airline, while Delta pilots would get a 3.5 percent stake.

USAToday says the pilot agreement is a key element of Delta's plans for a smooth integration of the two companies.

If the two unions don't come to terms by the deadline, they will have to submit to binding arbitration.