Delta Airlines will launch a survival strategy that includes job cuts, pay and benefit restructuring, and operational improvements to become what CEO Gerald Gerstein calls a "leaner, simplified, more productive airline." Rumors circulated throughout the summer that the airline was close to filing for Chapter 11 bankruptcy protection. Meanwhile, David Bronner, chairman of US Airways, told the New York Times the airline's labor groups must reach an agreement to save $800 million per year for the airline to avoid liquidation. While Bruce Lakefield, the airline's president and CEO, denies the airline faces imminent liquidation, he does say Chapter 11 protection is a very real possibility. US Airways is attempting to cut $1.5 billion in annual costs, $800 million of which it expects from labor. Logistics Today's sister publication Air Transport World reports that Lakefield wants to avoid another Chapter 11 filing.