United Says Pensions&#39; Termination Likely
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Cash-strapped UAL Corp., parent of United Airlines, yesterday said that it would &quot;likely&quot; terminate its four pension plans as part of its efforts to further cut costs and emerge from bankruptcy.
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US Airways yesterday asked a US Bankruptcy Court to wipe out the collective bargaining agreements of 20,000 employees, terminate the pensions of 53,000 existing
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CHICAGO -- A federal bankruptcy judge ruled against United Airlines yesterday in a procedural dispute, siding with unions that said the company submitted unsubstantiated claims about how employees would be affected if pension plans were terminated.
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Bankrupt United Airlines (UALAQ.OB: Quote, Profile, Research) said on Friday it needs labor cost cuts on top of any gains from terminating employee pensions and expects to move toward voiding its labor contracts in early November.
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United Airlines has signaled that it may terminate and replace employee pension plans, a move its parent company says is needed before it can emerge from Chapter 11 bankruptcy.
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CHICAGO: The agency that guarantees US corporate pension plans lashed out at United Airlines over an agreement with its pilots&#39; union that would allow the carrier to dump one of its employee pension funds with the union&#39;s blessing.
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CHICAGO, Sept. 24  - A federal bankruptcy court judge ruled against United Airlines on Friday in a procedural dispute with unions over employee pensions, ordering that its latest pension information filing be struck from the record.
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ASHINGTON, Aug. 17  - A legal overseer will be appointed to represent participants in United Airlines&#39; pension plans now that the company has halted contributions, the Labor Department said on Tuesday.
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CHICAGO - United Airlines would be within its rights to terminate its employee pension plans but hasn't yet decided to do so, an attorney for the carrier said Friday, as two unions urged a judge to block a financing plan they say is predicated on the airline halting fund contributions.    The hearing came a day after the release of court papers in which United warned it "likely" will have to end those pension funds in order to secure the loans it needs to get out of bankruptcy...
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CHICAGO Aug. 19, 2004  United Airlines warned that it likely will have to terminate its employee pension funds in order to secure the loans it needs to get out of bankruptcy a drastic step that would represent the largest pension default ever by a US ...
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The airline's plan to emerge from bankruptcy may include canceling its pension plans.
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CHICAGO - A federal bankruptcy judge has given United Airlines a 30-day "test period" to show it can cooperate with its unions on a restructuring plan, rejecting union calls to open the process up to rival proposals immediately because United has not tried hard enough to preserve employee pensions.    The hearing came a day after the release of court papers in which United warned it "likely" will have to terminate those pension funds in order to secure the loans it needs to emerge from Chapter 11 bankruptcy...
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The chief executive of United Airlines said he expects the carrier to emerge from bankruptcy in the autumn, the Chicago Tribune reported in its Sunday edition.
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The government&#39;s pension guarantee agency said yesterday that it will seek immediate termination of the pension plan of the pilots of United Airlines, a move the agency estimated would
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arring a last-minute change of heart by its recalcitrant unions, US Airways appears all but certain to seek bankruptcy protection on Sunday, people briefed on the situation said yesterday.
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The chief executive of United Airlines  said he expects the carrier to emerge from bankruptcy in the  autumn, the Chicago Tribune reported in its Sunday edition.
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United Airlines said the termination of its four employee pension plans was needed to attract the financing that would allow it to emerge from bankruptcy protection.