US expresses new concern about UAL pensions
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The Bush administration expressed fresh concern on Wednesday about the possibility bankrupt United Airlines (UALAQ.OB: Quote, Profile, Research) might scrap its
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WASHINGTON : Bankrupt United Airlines has agreed to appoint an independent party to manage its employee pension funds prior to September 15 in an agreement with the US Labor Department.
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CHICAGO : The judge overseeing United Airlines&#39; bankruptcy case struck a controversial pension-related brief from the record, in the latest development in the row over United&#39;s underfunded pension plans.
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UAL Corp.'s United Airlines, trying to attract financing to exit bankruptcy, said it probably will terminate and replace all its pension plans.
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UAL Corp. (UALAQ.OB: Quote, Profile, Research) , the bankrupt parent of United Airlines, on Wednesday said it would reduce US flights and increase capacity on more lucrative international
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United Airlines will have its pension scheme for pilots underwritten by the  US agency created to protect worker's retirement rights.
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United Airlines has said it will very likely terminate its four employee pension plans and replace them with less generous benefits. United said the drastic move was needed to attract the financing that would allow it to emerge from bankruptcy.
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U.S. pension insurers assumed  control of underfunded retirement plans covering more than  51,000 workers and retirees at bankrupt US Airways UAIRQ.OB,  a drastic money saving step the airline claimed was necessary  for it to survive, the government said on Wednesday.
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United Airlines is moving to obtain another $725 million in labor concessions and eliminate employees&#39; traditional pensions as it seeks the financing to come out of bankruptcy.
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U.S. pension insurers on Wednesday  assumed control of underfunded retirement plans covering flight  attendants, machinists and other non-union workers at bankrupt  US Airways UAIRQ.OB, the government said.
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As United Airlines faces the possibility of ending its pension plan, thousands of employees and retirees face futures as uncertain as the survival of the world&#39;s second-largest airline.
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arring a last-minute change of heart by its recalcitrant unions, US Airways appears all but certain to seek bankruptcy protection on Sunday, people briefed on the situation said yesterday.
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âFly the friendly skiesâ may be United Airlinesâ slogan. But employees of Americaâs largest carrier wonât be so convinced this weekend, on the heels of it filing court documents saying it is âlikelyâ to scrap its pension plans.
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Says it needs to save an additional $725M and also asks for pension relief; strikes loom. NEW YORK  - The parent of United Airlines Inc.
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United Airlines says it likely will end funding for employee pension plans, a move that would be the largest ever default by a US company and could lead to a taxpayer-funded bailout rivaling the savings-and-loan fiasco of the 1980s.
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SAN FRANCISCO (CBS.MW) - Thousands of employees at bankrupt US airlines received a reassuring note Tuesday from the federal pension agency, which vowed to ensure they will still have pensions as they head into retirement despite talk by their employers of
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Taking responsibility. The Pension Benefit Guaranty Corp. moved Thursday to take on the pensions of United Airlines pilots. The US federal agency is already groaning under a $23 billion deficit, and the PBGC