United Airlines and the Pension Benefit Guaranty Corp. reached an agreement that will allow United to terminate all of its defined benefit pension plans. According to PBGC, under terms of the agreement, which still must be approved by the US Bankruptcy Court, the agency would terminate and become trustee of the company's four pension plans and its claims against the company would be settled. PBGC estimates that United's pension plans are underfunded by $9.8 billion on a termination basis, ...

Subscribe to Access this Entire Article

"Other News - 04/25/2005" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.