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Monday May 16, 06:06
United Airlines can’t get rid of troubles with pensions
(by Brigitta Zulfitzler)

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United Airlines can’t get rid of troubles with pensions On Tuesday, a court allowed United Airlines to hand over responsibility for its pension plans to the government. Those plans have a deficit of nearly $10 billion. United workers and retirees with bigger pensions will suffer, because there is a limit on what the government will pay to each of them. But even after the government will have deprived $3 billion out of United Airlines beneficiaries, there will be more than $6 billion remain on its shoulders.

A danger that workers at United Airlines will start a strike signals of frustration because of wake of wage and benefit cuts and the termination of their pension plans, the chief executive, Glenn F. Tilton, said yesterday.

Chief Judge Eugene R. Wedoff of United States Bankruptcy Court is expected next week to decide the destiny of the Aircraft Mechanics Fraternal Association and the International Associations of Machinists and Aerospace Workers furious about United’s bid for further cuts.

United tries to combine its efforts to impose lower wage and benefit rates to continue negotiations with both the mechanics’ and machinists’ unions. Union officials announced their optimistic hope that new agreements could be reached eliminating the need for Judge Wedoff to impose terms.

Another airlines Delta Air Lines and Northwest are likely to follow United into bankruptcy.
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