The leadership of the Air Line Pilots Association is deciding whether to put the tentative agreement before Delta pilots for a vote.
In addition to pilot ratification, any agreement would also be subject to bankruptcy court approval.
Delta said it would not disclose the agreement's details until the ALPA's leadership had decided on presenting the potential pact to pilots.
"Barring any disruptions, the company is on track to achieve approximately 70 percent of its business plan's benefits by the end of this year, with the goal of successfully emerging from bankruptcy in 2007," Delta said in a statement.
Celebrity Families of 2014 [PHOTOS]