United Airlines' settlement with the US Pension Benefit Guaranty Corp. that permits the bankrupt carrier to terminate its defined benefit pension plans (ATWOnline, April 26) also requires it to transfer to PBGC securities having a face value of $1.5 billion. These include $500 million in principal amount of 25-year 6% senior subordinated unsecured notes, 5 million shares of 2% convertible preferred stock with a liquidation value of $100 per share and $500 million in principal amount of 8% ...

Subscribe to Access this Entire Article

"Other News - 04/28/2005" 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.