AIRLINES

Northwest Unions Propose Concessions : Northwest Airlines workers would get half the company’s stock and five of 15 board seats in exchange for $900 million in wage and benefit cuts under a plan to be released by four unions. The plan, presented to Northwest officials over the weekend, requires the company to restructure its debt before employees agree to any concessions. It also allows each union to determine the form and distribution of any cuts. The plan immediately ran into turbulence. The company, which offered a 20% stake and three board seats earlier this month, said workers must agree to cuts before debt talks begin. It also wants higher-paid employees to accept bigger cuts. Northwest, however, did say it is willing to meet immediately with leaders of the Transport Workers Union, the Aircraft Technical Support Assn., the Air Line Pilots Assn. and the Northwest Airlines Meteorologist Assn. as requested at a news conference unveiling the plan, which was approved by all six unions March 10. Northwest has already met with the two largest unions, the International Assn. of Machinists and International Brotherhood of Teamsters, which broke away from the labor coalition last week. The four union leaders said cuts must be linked to financial restructuring to ensure a long-term solution.