DALLAS (AP) — American Airlines heads to federal court Monday to convince a bankruptcy judge that to survive, it must break labor agreements that workers fought decades to win.
The airline lost more than $10 billion in the decade leading up to its declaration of bankruptcy last November. During that same period most of its major rivals used the bankruptcy process to cut wages and benefits, which American says has left it saddled with higher labor costs.
American wants to eliminate 13,000 union jobs — about one in every four union workers — freeze or terminate pension plans, curb health benefits, reduce time off, and impose many other cuts.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
