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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Struggling US Airways (UAIR) has asked its pilots to accept a 16.5% pay cut while giving them the chance to recoup some of the money by flying more.
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US Airways chief executive Bruce Lakefield said he would ask a bankruptcy court judge to slash union workers&#39; pay by 23 percent and reduce or eliminate employee retirement benefits.
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US Airways announced plans 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 is in talks with its pilots over pay cuts designed to turn it into a low-cost carrier, but failure could see it return to bankruptcy.
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US Airways (UAIRQ.OQ: Quote, Profile, Research) 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 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
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US Airways plans to ask a federal bankruptcy judge to impose temporary pay cuts on its workers unless it can reach agreement with its unions before then.
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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.
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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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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.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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Troubled US Airways is to cut hundreds of management and non-union jobs, and cut wages, in a bid to save $45m (Â£25.2m) a year towards its survival.
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US Airways Group Inc.'s pilots union said on Wednesday it may agree this week on a plan to cut wages and benefits to help the seventh-biggest U.S. airline avoid a second bankruptcy filing.
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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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Reservations and gate agents at US Airways approved a new contract Thursday 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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A federal bankruptcy judge in Alexandria has granted US Airways permission to immediately cut the pay of its union workers by 21 percent.