US Airways to Skip Pension Payment
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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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Union says pilots may retire en masse to get payments rather than ride out possible bankruptcy. NEW YORK  - Delta Air Lines Inc.
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United Airlines&#39; workers are getting formal details on how the bankrupt company wants to replace their traditional pension with a 401(k)-style benefit plan - plus further steep reductions in pay and other benefits.
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Airline backed off from its plan to eliminate its retirees' medical benefits and agreed late Wednesday to continue paying for some of their health care.
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U.S. pension insurers on Wednesday  assumed control of underfunded retirement plans covering flight  attendants, machinists and other non-union workers at bankrupt  US Airways UAIRQ.OB, the government said.
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WASHINGTON  - US Airways, taking punishing losses, asked a bankruptcy judge to let it scrap deals with three unions, terminate pensions with set payouts, and slash health benefits.
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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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The US pension agency on Thursday said it would take over the retirement plans of pilots at bankrupt United Airlines, which are underfunded by $2.9 billion.
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US Airways Group Inc. has warned a bankruptcy court that it is considering whether to freeze or terminate two pension plans covering nearly 25,000 participants, The Wall Street Journal reports.
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Continental Airlines announced today it will not make any contributions to its pension plan this year, citing as reasons the ongoing uncertainty of the industry&#39;s economic environment and the record high cost of jet fuel.
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The Bush administration expressed  fresh concern on Wednesday about the possibility bankrupt  United Airlines UALAQ.OB might scrap its employee pension  plans, which would shift the burden of paying benefits to the  government.
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NEW YORK, December 24  - The customer service and reservation agents of US Airways Group (USG.FSE) have agreed to a 13% pay cut and the elimination of some jobs to help the company generate annual cost savings of $137 million and avoid
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U.S. pension insurers on Wednesday  assumed control of underfunded retirement plans covering flight  attendants, machinists and other non-union workers at bankrupt  US Airways, the government said.
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In an effort to conserve cash, financially ailing US Airways Group Inc. said Monday that it plans to ask the Internal Revenue Service for permission to delay payments into the pension plans of two of its employee groups.
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A bankruptcy judge granted US Airways authority yesterday to temporarily cut the pay of its union workers by 21 percent, comparing the airline&#39;s financial outlook to &quot;a ticking fiscal time bomb.
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US Airways UAIRQ.OB plans to cut  its executive payroll by 20 percent, reducing pay and benefits  for its 3,000 managers and eliminating positions, The  Washington Post reported on Wednesday.
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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.