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Northwest Airlines asks bankruptcy court to void labor contracts Jamie Sterling at 3:56 PM ET [JURIST] Northwest Airlines [corporate website] asked a federal bankruptcy judge Wednesday to void labor contracts if its employee unions do not agree to concessions worth $1.4 billion a year [NWA press release]. The attempted savings are part of the airline's larger plan to reduce costs by $2.5 billion after the fourth-largest US airline filed for Chapter 11 bankruptcy in September [JURIST report]. The company plans on a second round of pay and benefit reductions during the upcoming year and also plans to reduce its flight schedule. Reuters has more. Link | 
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