US Airways accord may set the tone for others
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A concessionary agreement struck late Thursday with a union representing nearly 6,000 US Airways customer service workers appears far less onerous than what the airline
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SAN FRANCISCO (CBS.MW) - US Airways Group, under a tight deadline to reach deals with its unions to avoid slipping back into bankruptcy, is still far apart on a tentative agreement with its pilots.
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US Airways&#39; (UAIRQ:OTC BB - news - research) passenger service employees approved a package of concessions estimated to save the airline about $137 million a year.
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US Airways Group Inc. UAIRQ.OB,  which filed for bankruptcy protection in September, on Thursday  said it reached agreements with its lenders and lessors that  will let it keep flying most of its planes.
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US Airways and its pilots&#39; union reached a tentative agreement yesterday on $300 million in annual wage and benefit cuts, after weeks of debate inside the union over whether to grant concessions to the troubled airline.
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Shares of US Airways (UAIR.O: Quote, Profile, Research) rose more more than 5 percent on Thursday after the airline&#39;s pilots union said it may soon agree on a plan to cut wages and benefits to help the carrier avoid a second
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US Airways reached a tentative $4.5 million cost-cutting agreement with leaders of the union that represents the carrier&#39;s 150 flight dispatchers, the airline said yesterday.
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US Airways and its pilots union said  on Saturday that they were willing to resume talks over a $295  million package of concessions, as time ran short for the  company to strike giveback deals with its labor groups and  avert another trip into bankruptcy.
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The machinists can approve the carrier's latest contract proposal and usher in the waves of cuts that come with it. Or they can turn down the contract and open the door to a walkout that could send  US Airways Group Inc. flying into oblivion.
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Shares of US Airways Group Inc. rose more than 9% Thursday morning after the airline&#39;s pilots union said it may agree on a plan to cut wages and benefits.
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Bankrupt US Airways (UAIRQ.OB: Quote, Profile, Research) sought consent from its big unions on Wednesday for temporary relief from contracts and threatened to
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Pressured by the prospect of bankruptcy, US Airways Group Inc. proposed last-ditch cost-saving offers to its pilots and flight attendants unions yesterday.
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A union representing nearly 6,000 US Airways workers yesterday said it has struck a tentative concession deal with the airline, easing the likelihood
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US Airways Group Inc. and its pilots union have reached a tentative agreement regarding new wage and benefit concessions, an Air Line Pilots Association spokesman said Friday.
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US Airways Group has given its pilots about one week to negotiate a contract yielding up to $295 million a year in wage and benefit concessions, the union said Tuesday, or the airline could ask a bankruptcy judge to impose such terms.
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US Airways, which filed for bankruptcy protection in September, on Thursday said it reached agreements with its lenders and lessors that will let it keep flying most of its planes.
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Leaders of the pilots&#39; union at bankrupt US Airways were considering Friday whether to forward to members a proposed contract renegotiation that includes an average pay cut of more than 18 percent.