The nation's struggling airlines face at least $10.4 billion in payments for defined-benefit pension plans through 2008, significantly more than some are able to afford, a congressional report says. The GAO, the investigative office of Congress, said easing pension-plan obligations would help, but not eliminate, the cost imbalances the major airlines have with low-cost competitors. It would not guarantee that they could avoid bankruptcy.
See "Airlines Face Billions in Pension Payments", Associated Press, Los Angeles Times, October 4, 2005