USAir Looks for 23 Percent Union Pay Cut:
NEW YORK (Reuters) - US Airways Group Inc. will ask a bankruptcy court on Friday to impose emergency pay cuts of 23 percent on unionized workers if an agreement with the workers is not reached during the day.U.S. Airways, along with United, has stopped paying into its employee pension plan. Delta was hemorrhaging pilots taking early retirement for the same reason: the flyboys figured a 50% lump sum payout on their pensions was better than losing the whole thing, as Delta threatened bankruptcy. American Airlines is bleeding cash again.
The U.S. airline industry is in a real mess.
