US Airways Group Inc. mechanics, pilots and other workers agreed to defer 5% of their salaries for up to 1? years if there is a war with Iraq, which will help the airline survive a possible drop in traffic, said David Bronner, CEO at the $24 billion Retirement Systems of Alabama, Montgomery. The pension fund is set to take control of the bankrupt Arlington, Va.-based airline. Mr. Bronner noted that US Airways is the only airline whose employees have agreed to such a deferment. The workers will receive their deferred money after the company reports its first profitable quarter or at the end of 18 months, whichever comes first, Mr. Bronner said.
US Airways Group Inc. mechanics, pilots and other workers agreed to...
Sponsored
White Papers
Sponsored Content
Partner Content