US Airways May Slash Pay by 21 Percent
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ALEXANDRIA, Va. - A federal bankruptcy judge has granted approval for US Airways to cut the pay of its union workers by 21 percent through February to help the nation's seventh-largest airline stay in business and emerge from bankruptcy...
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A bankruptcy judge granted US Airways authority Friday to immediately cut the pay of its union workers by 21 percent, saying the airline's situation is so dire that urgent action must be taken.
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US Airways Group Inc.&#39;s pilots union said on Wednesday it may agree this week on a plan to cut wages and benefits to help the seventh-biggest US airline avoid a second bankruptcy filing.
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United Airlines (UALAQ.OB: Quote, Profile, Research) , which is trying to save $725 million a year, has offered its pilots two ways to cut their salaries, the New York Times reported on Tuesday.
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US Airways UAIRQ.OQ 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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Leaders of the US Airways pilots union will decide Tuesday whether to forward a proposed contract to members that would cut average pay by 18.
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A bankruptcy judge granted US Airways authority today to immediately cut the pay of its union workers by 21 percent, saying the airline&#39;s situation is so dire that urgent action must be taken.
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A federal bankruptcy judge has granted approval for US Airways to cut the pay of its union workers by 21 percent through February to help the nation&#39;s seventh-largest airline stay in business and emerge from bankruptcy.
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US Airways pilots yesterday approved a five-year, cost-cutting contract that will reduce their pay about 18 percent and save the airline about $1.
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ALEXANDRIA, Va. US Airways is warning a bankruptcy judge that it may have to liquidate as soon as February unless the judge imposes temporary pay cuts of 23 percent on the airline&#39;s union workers.
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Troubled airline US Airways asks a court to impose wage cuts of up to 23%, warning it might otherwise go into liquidation.
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US Airways announced plans Tuesday to cut $45 million a year in pay and benefits to roughly 3,700 management employees, a move the airline hopes will convince its union employees to collectively accept $950 million in annual cost cuts.
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US Airways Group Inc. and its pilots union said they may agree by today on a plan to cut $295 million in wages and benefits to help the carrier avoid a second bankruptcy filing.
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US Airways plans to cut its executive payroll by 20 percent, reducing pay and benefits for its 3,000 managers and eliminating positions, said a newspaper report Wednesday.
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ALEXANDRIA, Va. Â· 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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ARLINGTON, Va. -- US Airways chief executive Bruce Lakefield said yesterday 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 met with two unions yesterday to try to agree on concessions before an Oct. 7 hearing at which a bankruptcy judge may let the carrier temporarily reduce pay 23 percent to help avoid potential liquidation.