United Airlines' announcement today that it plans no further payments to its employee pension funds and is studying options to determine whether it can make payments in the future and still attract financing, has union leaders upset. The move is part of United?s effort to attract new financing in order to emerge from Chapter 11 bankruptcy. The pension funds cover 125,000 active and retired employees.
See "United Stops Pension Contributions", Dave Carpenter, The Washington Post, July 22, 2004