A bankruptcy judge has given the go-ahead to United Airlines in its efforts to eliminate a large number of pension plans in an effort to save money. The proposal would, according to United, save the company $645 million annually over five years, and theoretically help profitability. Workers formerly covered by the pensions argue that the deal violates their contract, and have threatened to strike.
See "Judge clears UAL to terminate pensions", Reuters, The New York Times, May 9, 2005