US Airways Pilots Grant Pay Concessions to Bankrupt Airline
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By their vote, the pilots became the first major union to agree to permanent cuts at the airline.
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US Airways reached a tentative agreement with the leaders of its pilots union on $300 million in annual concessions yesterday, a deal that would result in the pilots
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A federal bankruptcy court judge yesterday granted US Airways most of the emergency pay cuts for its union members that it had said were critical to avoid liquidation.
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US Airways Group Inc, struggling to avert a second bankruptcy filing since 2002, and its pilots union have agreed to resume negotiations on US$295 million in pay-and-benefit cuts.
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Negotiations between US Airways Group Inc. and its pilots union over labor concessions collapsed Monday. The airline is seeking $295 million in annual concessions from pilots.
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The union representing US Airways pilots voted yesterday to send a concessionary contract, meant to save the troubled airline $300 million a year, to its 3,200 pilots for a vote.
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Pilots at US Airways have voted in favour of giving $300 million in annual wage and benefit concessions to the struggling airline, becoming the first major labor group to accept permanent cuts, the union representing pilots said.
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The Air Line Pilots Association expects to have a decision by early Thursday regarding a $300 million wage and benefit concession agreement affecting its US Airways pilots, according to a union spokesman.
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Pilots at US Airways on Thursday  ratified a concession package that includes pay cuts of 18  percent, a decrease in company contributions to their  retirement plan and increased pilot productivity.
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US Airways&#39; pilots union ratified a new labor contract Thursday that the airline says is a critical step to a successful emergence from bankruptcy, with pilots accepting
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US Airways said yesterday it can emerge from bankruptcy a stronger airline, but acknowledged it needs deeper wage concessions from its pilots - something it has failed to get after two years of trying.
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Airline says it will need $1B in concessions from pilots, about two-thirds of which would come from pay cuts, to avoid filing for bankruptcy protection.
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US Airways Group Inc. (UAIR.O: Quote, Profile, Research) and its pilots union agreed late on Friday to reopen concession talks after leaders of the labor group declined
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Delta Air Lines&#39; pilots union said Wednesday night it had reached a tentative agreement on concessions that could save the struggling carrier from bankruptcy.
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Attempting to ward off a second bankruptcy filing, management and pilots of US Airways (Nasdaq: UAIR) took discussions of concessions that might keep the airline afloat through this past weekend.
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Bankrupt US Airways Group Inc.  UAIRQ.OB reached a tentative agreement on Friday with  negotiators for its pilots union on $300 million in annual  concessions.
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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.