Delta sponsors defined benefit pension plans for eligible employees and retirees. According to its recent SEC filing, the airline had no minimum funding requirements in 2019 or 2020. There are also no minimum funding requirements in 2021. Based on Delta’s current projections, the airline does not expect any minimum required contributions until 2025.
However, in 2019, Delta voluntarily tipped US$1 billion into pension plans. Last year, because of the cash crunch, Delta only put $49 million in. However, in 2021, Delta plans to upsize that figure and voluntarily put significantly more money into their employee’s pension plans.
“We plan to contribute at least $500 million to these plans in 2021,” says a note buried in Delta’s recent financial filings with the SEC.
Author(s): Andrew Curran
Publication Date: 17 February 2021
Publication Site: Simple Flying