Law360, New York (February 01, 2012, 7:12 PM ET) -- American Airlines Inc. parent AMR Corp. will ask a New York bankruptcy court for permission to terminate its employee pension plans despite fierce opposition from its three largest unions, the company said Wednesday.
The proposal was part of broad cost-cutting measures outlined by AMR after a series of private meetings with the Allied Pilots Association, the Association of Professional Flight Attendants and the Transport Workers Union. The unions, along with the Pension Benefit Guaranty Corp., have fought the company's efforts to cut its four pension plans,...
American Airlines Wants To End Pension Plans
To view the full article, take a free trial now.
