United Airlines Filed for bankruptcy: Dec. 9, 2002 Length of time in bankruptcy: 38 months Capacity changes: 20 percent fewer airplanes; trimmed capacity by 8 percent Job cuts: 30 percent fewer employees, about 58,000 Wage/benefit cuts: Terminated defined-benefit pensions; average pay for pilots, mechanics and ground workers dropped about 35 percent; flight attendants’ average pay…
Category: News
United Airlines Retirees Shorted On Pensions Due To Agency Errors: Watch Dog
WASHINGTON — A watchdog report says the agency that insures pensions for millions of U.S. workers made serious errors in valuing pension plans for United Airlines employees and as a result some retirees may have received less than they were due. The report issued Wednesday by an assistant inspector general of the Pension Benefit Guaranty…
American bankruptcy could affect Okla. Workers, Bloomberg Buisnessweek, 11-29-11
By TIM TALLEY OKLAHOMA CITY The salaries and benefits of workers at the American Airlines maintenance facility in Tulsa could be at risk now that the airline’s parent company is seeking bankruptcy protection, officials of the workers’ union said Tuesday. Rick Mullings, international organizer for the Transport Workers Union of America Local 514, said he…
Statement from PBGC Director Josh Gotbaum on AMR Corp. Bankruptcy
WASHINGTON—Pension Benefit Guaranty Corporation Director Josh Gotbaum released the following statement today on the Bankruptcy Filing of AMR Corp.: “Today American Airlines’ parent company filed for bankruptcy. When this happens employees and retirees worry — and they should. In past bankruptcies, workers and retirees have lost their healthcare and seen their pensions cut. Based on…
AMR Files for Bankruptcy Protection in New York as Talks With Pilots End
American Airlines parent AMR Corp. (AMR) filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S. With the filing, American became the final large U.S. full- fare airline to seek court protection from creditors. The Fort Worth,…
Employer Bankruptcy effects
A video that every employee (and many retirees) should see. Watch all the segments. Here is a link to a PBS Frontline video on corporate Chapter 11 bankruptcy and it’s effects on pay, retirement, pensions and other benefits. It features United Airlines employees. It’s worth watching. It’s also a huge reminder of the signifcant losses…
TULSA 66ERS, TULSA TRANSPORT WORKERS UNION SERVE THANKSGIVING FEAST
TULSA, Okla., November 17, 2011 Members of the Tulsa 66ers front office partnered up with the Tulsa Transport Workers Union Thursday to volunteer at the annual Tulsa Dream Center Thanksgiving Feast, helping serve hot meals to hundreds of Tulsa citizens in need. “We really enjoyed teaming up with the Tulsa 66ers today,” Local 514 member…
Occupy National Roundup: Politicians Crack Down, Protests Keep Growing
New York – Last night, billionaire Mayor Michael Bloomberg sent a massive police force to evict members of the public from Liberty Square – home of Occupy Wall Street for the past two months. People who were part of a dynamic civic process were beaten and pepper-sprayed, their personal property destroyed. Supporters of this rapidly growing…
2011 Veterans Day Parade
WOW what a great turnout! We had a great turnout from Local 514 in support of our troops on Veterans Day. The Parade is the fourth largest Vetern’s Day Parade in the country and Local 514 members were there in force. Many members, riding on and off the float, handed out candy and flags to…
DOT Approves Agreement Between American Airlines, Qantas
The DOT has given approval to American Airlines and Qantas for a trans-Pacific joint business agreement (JBA), which will allow the carriers to coordinate services between the United States, Australia and New Zealand. The authorization of the JBA will bring more travel choices and greater benefits to consumers and also maximize value for stakeholders in…