Continental to Skip Pension Payment
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Continental Airlines Inc., the fifth-largest US carrier, said it will skip contributions to employee pension plans this year, taking advantage of a law enacted in April to conserve cash.
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HOUSTON Continental Airlines has finalized wage and benefit cuts and changed some work rules -- to save money. The action comes as Houston-based Continental seeks to achieve 48 (M) million dollars of 500 (M) million dollars in labor cost cuts.
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Continental Airlines Inc. expects to take &#36;19 million in fourth-quarter charges for future lease payments and return conditions for aircraft retirements, the No. 5 U.S. airline said in a filing on Friday.
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Continental Airlines on Tuesday said it swung to a third-quarter loss from a year-ago profit primarily due to special charges related to the retirement of three leased MD-80 aircraft.
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Continental Airlines on Thursday said it intends to cut USD$500 million in costs per year from a combination of pay cuts, benefit changes and other measures to ensure its survival after losing hundreds of millions of dollars since the September 11, 2001
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Britons may need to delay retirement to make up for a lack of pension savings, Work and Pensions Secretary Alan Johnson wrote in today&#39;s Observer newspaper.
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International Business Machines Corp. has shut its cash-balance pension plan to new employees, CBSMarketwatch.com reports. Instead, new employees can contribute 6 percent of their
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nited Airlines said yesterday that it would most likely terminate its four employee pension plans and replace them with less generous benefits, a drastic move that United said was needed to attract the ...
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British Airways PLC said Friday its pensions fund deficit more than doubled and angered unions by proposing an increase in the retirement age and limiting pay raises as a way to reduce it.
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Continental Airlines Inc  on Monday projected it would end its third quarter with about $3.0 billion in cash and short-term investments.
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ALEXANDRIA, Va.  - US Airways Group Inc. UAIR.O  told a bankruptcy court on Monday it would skip a $110 million  pension payment due Wednesday as it looks to slash costs and  avoid liquidation after filing for protection from its  creditors over the weekend.
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The government's pension guarantee agency said yesterday that it will seek immediate termination of the pension plan of the pilots of United Airlines, a move the agency estimated would save it $140 million over the timetable proposed by the carrier and its pilots.
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Surprise -- you may not be allowed to take advantage of a vital retirement tool.
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Continental Airlines Inc.  on Thursday said failure to achieve &#36;500 million in annual wage reductions by Feb. 28 could result in "inadequate liquidity," sending its shares spiraling down.
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United Airlines must pay $994 million in skipped contributions to employee pension plans and in benefits accrued by the plans, said the company appointed to protect worker interests in the retirement funds.
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Itâs folly to think that you can set your retirement plan in your 20s or 30s and forget it until you retire.
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Dulles, VA, Aug. 17 (UPI) -- US Airways is seeking permission to delay pension contributions of $67.5 million, so it can keep operating.