The unions would make wage and benefit concessions in return for an ownership stake.

Texas Air has been pressing the unions for wage and benefit concessions to help stem enormous losses.

A crucial component of the plan is the airline's bid for $1 billion in wage and benefit concessions from its pilots' union.

It received wage and benefit concessions worth $2.5 billion from its unions in spring 2003.

The three unions have pledged $350 million a year in wage and benefit concessions.

It is demanding deep pay cuts from employees, who have already given two rounds of wage and benefit concessions.

Delta began pushing its pilots for wage and benefit concessions more than a year ago.

The company has been seeking wage and benefit concessions that it says are needed to remain competitive.

The workers had declined to grant wage and benefit concessions sought by Colt.

The airline has been locked in a bitter struggle with its unions, from which it is seeking wage and benefit concessions.