PBGC Responds to Americans "Smoke & Mirrors"
PBGC Responds to American Airlines’ Letter on Employee Pensions WASHINGTON—The Pension Benefit Guaranty Corporation today pushed back on misleading statements to American Airlines employees by its management about their pension plans. "American Airlines is telling their workers and retirees not to worry, but they should," said J. Jioni Palmer, PBGC's director of communications. US AIRWAYS - Up to Their "OLD TRICKS!"
US Airways confirms interest in American Airlines US Airways Group Inc., the smallest full-service domestic carrier, confirmed it’s evaluating a possible merger with American Airlines parent AMR Corp. in bankruptcy. Millstein & Co., Barclays Plc and the law firm of Latham & Watkins LLP have been hired to help Tempe, Arizona-based US Airways evaluate AMR options, Chief Executive Officer Doug Parker told analysts and investors today on a conference call. Read more... AMR Unions to AMR: "Enough Already!"
Unions oppose fees paid by AMR to consultants for bankruptcy Consulting fees for lawyers, accountants and advisers are mounting in AMR Corp.'s bankruptcy case, and two of the company's labor unions have decided they aren't going to take it anymore, court documents show. AMR, the parent of American Airlines, has filed at least a dozen motions in U.S. Bankruptcy Court seeking court approval to hire consultants at fees that cumulatively exceed $20 million, court documents say. Read more... |
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