AIRLINES

Delta Pilots Approve 4-Year Contract: More than 76% of the more than 6,900 pilots who voted approved the contract, formally ending almost two years of bitter disputes. The contract provides better job security, gives pilots representation on the board of directors, cuts their pay by 2% through the end of the decade and calls for them to get options to buy up to 10 million shares of Delta stock. Atlanta-based Delta Air Lines Inc., the nation’s third-largest carrier, and the union representing its 8,600 pilots reached a tentative agreement in December. The pact paves the way for Delta to launch its low-cost, no-frills airline, called Sunshine, to compete with other no-frills carriers. Delta is in the midst of a wide-ranging plan to cut annual expenses by $2 billion.