A federal agency worked to preserve the pensions of United Airlines flight attendants until offered up to $1.5 billion in stock and notes...
CHICAGO — A federal agency worked to preserve the pensions of United Airlines flight attendants until offered up to $1.5 billion in stock and notes in the airline, the flight attendants union contended yesterday.
The Association of Flight Attendants said it has filed notice with the U.S. Bankruptcy Court in Chicago that it is appealing a ruling by Judge Eugene Wedoff that allows United to turn over its pension obligations to the federal Pension Benefit Guaranty Corp.
The union has been denied its “rightful day in court to defend our plan under the standards of pension and bankruptcy law,” Greg Davidowitch, president of the union’s Master Executive Council, said in a statement.
United has angered many workers with the loss of their pension plans. If the pensions are transferred to the federal agency many workers will receive thousands of dollars less in retirement benefits than they had anticipated.
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