Airline plan terminations would boost PBGC payout

The termination of the $3.3 billion pension plans of United Airlines Inc. or the $6.9 billion pension plans of Delta Airlines Inc. would add $800 million to the Pension Benefit Guaranty Corp.'s fiscal 2004 payout of $3 billion, according to a new study by the Congressional Research Service, Washington. And if US Airways terminated its remaining $1.67 billion pension plans, the agency's 2004 payout would increase by roughly $1.7 billion.