|
|
Article: US Airways asks U.S. Bankruptcy Court to end contracts, pensions.
- Article from:
- Pittsburgh Post-Gazette (Pittsburgh, PA)
- Article date:
- November 13, 2004
CopyrightCOPYRIGHT 2004 Pittsburgh Post-Gazette. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Dan Fitzpatrick
Nov. 13--US Airways yesterday asked a U.S. Bankruptcy Court to wipe out the collective bargaining agreements of 20,000 employees, terminate the pensions of 53,000 existing and former workers and slash the health benefits of almost 11,000 retirees.
The move, which sets the stage for a potential final showdown with workers during the holidays, was called "unfortunate but necessary" by an airline struggling to survive.
If granted, the measures would save an estimated $1.08 billion annually and give twice-bankrupt US Airways a "fighting chance to survive," the nation's seventh-largest carrier said. Without the relief, it ...