US Airways asks court to cut workers&#39; pay to stave off bankruptcy
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ARLINGTON, Va. US Airways has asked a bankruptcy judge to impose temporary pay cuts on union workers to conserve cash flow during the slow fall travel season.
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US Airways&#39; unions, defying efforts to win labor concessions to avert a bankruptcy, are unlikely to give up pay and benefits under a threat of cuts imposed by a court, a labor leader and consultants said.
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US Airways (UAIR.O), struggling to avoid a second bankruptcy, has asked pilots for a 16.5 percent pay cut, USA Today reported in its Friday editions.
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US Airways Group Inc., which filed for Chapter 11 bankruptcy protection last month, will eliminate hundreds of management and nonunion jobs and impose wage cuts to save $45 million a year.
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US Airways (UAIRQ.OB: Quote, Profile, Research) wants a bankruptcy judge to impose temporary wage and other cost cuts on its union workers, warning that it only has enough cash to operate through January.
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US Airways (UAIRQ.OQ: Quote, Profile, Research) has asked a bankruptcy judge to approve temporary wage and other cost cuts from its unions, saying it only has enough cash to survive through January 2005.
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US Airways Group Inc.&#39;s (UAIR.O: Quote, Profile, Research) chairman said employees must agree to $800 million in new wage and benefit cuts within 30 days or the airline might be liquidated, the New York Times said on Thursday, citing
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With a bankruptcy court scheduled to hear arguments Thursday by US Airways Group Inc. to throw out contracts covering union workers who haven&#39;t approved new deals, union leaders for the carrier&#39;s customer-service
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US Airways Group Inc. yesterday asked a federal bankruptcy judge to void labor agreements with three unions to help it slash costs and avoid liquidation.
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US Airways chief executive Bruce Lakefield said Friday the airline would, as expected, ask a bankruptcy judge to impose temporary pay cuts on its union workers to conserve cash during the slow fall travel season.
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US Airways Group Inc., acting under Chapter 11 bankruptcy protection, has proposed a 19.5% pay cut for its pilots, The Wall Street Journal reports.
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A US Bankruptcy Court judge, in a harsh decision he called critical to US Airways Group's survival, said yesterday the airline could slash pay by 21 percent for its unionized workforce of 25,000.
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US Airways Group Inc.  told a bankruptcy court on Monday it would skip a &#36;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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Troubled airline US Airways asks a court to impose wage cuts of up to 23%, warning it may go into liquidation.
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A bankruptcy judge granted US Airways authority Friday to immediately cut the pay of its union workers by 21 percent through mid-February, saying the airline&#39;s situation is so dire that urgent action must be taken.
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US Airways wants a bankruptcy judge to impose temporary wage and other cost cuts on its union workers, warning that it only has enough cash to operate through January.
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US Airways faces a &quot;high probability&quot; of liquidation by mid-February if the temporary pay cuts it requested are not approved by the US Bankruptcy Court.