American Airlines and leaders of its three major labor unions came together today to ask Congress for pension relief. Fort Worth-based American also warned that the carrier will suffer if rivals unload pension obligations on the government.
American was joined by presidents of the Allied Pilots Association, the Association of Professional Flight Attendants and the Transport Workers Union. They say companies that freeze plans through negotiations with workers should get relief over companies that terminate plans in bankruptcy.
Delta Air Lines and bankrupt U-S Airways have sought to freeze
or terminate defined-benefit plans in favor of defined-contribution
The parent of United Airlines is trying to shed its plans, which would be taken over by the government's Pension Benefit Guaranty Corporation.