Feb 1 - United Airlines finally left bankruptcy Wednesday, a leaner and more cost-efficient carrier after a painful restructuring that began in 2002 and lasted an industry record 1,150 days.
Jan 29 - If the company is worth so much that management has hundreds of millions coming to them, shouldn't the employee-owners get a taste?
Jan 31 - United Airlines is expected to end its 38-month stay in bankruptcy proceedings on Wednesday, but the carrier may not be profitable this year because of a recent surge in fuel prices.
Jan 24 - Judge Eugene Wedoff today approved United's Plan of Reorganization (POR), with February 1 as the date for our airline to emerge from bankruptcy.
Flight Attendant Stock Distribution Following Bankruptcy Exit
Jan 18 - The Management Bonus Survey posted on our website closed today, not surprisingly, with the following results. Ninety-nine percent of participants in the survey did not support the management bonuses contained in their Management Equity Incentive Plan (MEIP).
Flight Attendants Secure Deal for Retirement
Jan 15 - If executive pay is out of control across America - and who would argue that it isn't? - then the compensation being paid to managers running companies in bankruptcy nowadays can only be described as insanity squared.
Jan 15 - Changes in the regulatory environment are likely to permit mergers between major US airlines, Glenn Tilton, chairman and chief executive of United Airlines, said on Thursday as the carrier looks to a future beyond three years in Chapter 11 bankruptcy protection.
Jan 14 - The financially healthy technology giant I.B.M. will freeze its pension system reiterates the message businesses are increasingly sending their employees: you're on your own.
Jan 13 - United Airlines has agreed to scale back a management stock-ownership plan and make other changes to its bankruptcy reorganization plan.
Calling on Management to Negotiate Meaningful FA Retirement Security
The District Court for the District of Columbia today issued a ruling against the Association of Flight Attendants-CWA (AFA-CWA) and found that the Pension Benefit Guaranty Corporation (PBGC) complied with the Employee Retirement Income Security Act of 1974 (ERISA) and other applicable laws in terminating the Flight Attendant Pension Plan.
Jan 12 - United Airlines resolved simmering disputes Thursday with its unsecured creditors, clearing the way for the carrier to end its 3-year-old bankruptcy case in a few weeks.
Jan 11 - When United Airlines exits bankruptcy next month, CEO Glenn Tilton is expected to pocket stock and options worth $15 million, base pay of $605,625 and a bonus that could double his salary.
The Association of Flight Attendants-CWA has filed an objection to United's POR due to additional bonus program, the Management Equity Incentive Plan (MEIP) and management's attempt to include a reservation of rights to reject the Flight Attendant Collective Bargaining Agreement after exit from bankruptcy.
Jan 10 - In its Plan of Reorganization (POR), United has included a lavish bonus program for distribution of equity upon exit from bankruptcy and in years directly following exit for 400 unnamed members of management.
MEC 6-05 Grievance Denied
Jan 7 - The airline business has been mismanaged by executives who do not really understand what matters to customers - is the dirty little secret of the industry.