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from airportbusiness.com...

JOSHUA FREED
AP Business Writer

MINNEAPOLIS (AP) -- Northwest Airlines Corp. shares sank further on Tuesday, as its chief executive said the airline must get labor concessions by the end of 2005 or face the possibility of bankruptcy.

But chief executive Doug Steenland also said a pay cut offer by mechanics was inadequate, and flight attendants have repeated their opposition to cuts. Northwest shares sank 24 cents, or 5.4 percent, to close at $4.19 on the Nasdaq Stock Market, a new 52-week low.

''If we are unsuccessful in realizing labor cost restructuring, we are going to have to consider the Chapter 11 bankruptcy option,'' Steenland said Tuesday in a speech to Minneapolis business leaders.