Judge OKs US Airways&#39; plan to cut pay by 21%
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The unraveling of the ailing airline industry picked up speed Friday as a bankruptcy judge granted US Airways authority 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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ALEXANDRIA, Va. -- A US bankruptcy judge threw US Airways a lifeline Friday, imposing a four-month, 21 percent wage cut on the floundering airline&#39;s 28,000 union employees.
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A federal judge on Thursday approved bankrupt US Airways'  cash finance deal with a federal government board and another arrangement allowing the airline to take delivery of nine regional jets.
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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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A bankrupt US Airways today won most of the emergency pay cuts it said were critical to avoid liquidation, and the airline industry&#39;s other bankrupt company, United, said
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A judge 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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The deal is said to include annual pay cuts of about 19.5 percent and reductions in contributions to retirement benefits.
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ALEXANDRIA, Va. -- US Airways asked a bankruptcy judge yesterday to cancel labor contracts with three of its unions and impose much lower pay so it can move ahead with a plan to permanently cut costs, reposition itself as a low-cost carrier, and avoid a possible liquidation.
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US Airways also asks a judge to approve pay and benefit cuts to help save the carrier from going under. By Associated Press. ALEXANDRIA, Va.
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US Airways intends to slash its executive payroll by 20 percent, reducing the pay and benefits for its 3,000 managers and eliminating some positions, sources familiar with the plan said yesterday.
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US Airways  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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US Airways Group Inc. stock fell as much as 21 percent in early trading after leaders of the airline&#39;s pilots union rebuffed a plan to cut $295 million in wages and benefits the company
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Union workers may face a 23 percent slash in pay; United says it needs cash reserves. United Airways asked a bankruptcy judge to impose a 23 percent pay cut on its union workers, including pilots and attendants.
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Reservations and gate agents at US Airways approved a new contract yesterday that cuts pay by 13 percent and provides the airline some of the relief it says it needs to avoid imminent liquidation.
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ALEXANDRIA, Va. - A bankruptcy judge granted US Airways authority yesterday 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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Flight attendants at bankrupt US Airways approved a new labor contract Wednesday that cuts their pay by nearly 10 percent, leaving only one union that has refused to accept the cuts the airline says is necessary to avoid imminent liquidation.
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US Airways will ask a bankruptcy court judge to impose emergency pay cuts of 23 percent on its major unions, according to a newspaper report late on Thursday.