U.S. Objects to United’s Plan for Its Pensions
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From Reuters
U.S. pension insurers asked a Bankruptcy Court to prevent United Airlines from halting contributions to its retirement plans, which the government says are underfunded by $8.3 billion.
Unions representing the airline’s machinists and flight attendants, also in filings with the court in Chicago, formally objected to the pension provision included in United’s latest bankruptcy financing agreement, which prohibits any new payments during Chapter 11.
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