Bankruptcy looms over US Air talks
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SAN FRANCISCO (CBS.MW) - Snubbed by its pilots, US Airways Group is scrambling to find cost savings among other union workers to avoid tumbling back into bankruptcy, an event industry analysts warn could come as early as this weekend.
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Investors pulled back from shares of major air carriers Friday as concerns loomed that US Airways Group Inc. and Delta Air Lines Inc. might soon declare bankruptcy, in what would mark yet another major setback to the embattled industry.
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US Airways was locked in tough bargaining on wage and benefit cuts with its pilots union, whose backing is critical for the struggling airline to avoid another bankruptcy filing.
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The US halts plan to give foreign investors more control over its airlines, probably delaying an open skies treaty.
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Delta Air Lines Inc. is on the brink of filing for bankruptcy, with the coming weeks critical. This weekend, the airline continues negotiations with its pilots union in Hollywood in order
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US Airways Group Inc. , the nation's seventh-largest airline, filed for Chapter 11 bankruptcy protection yesterday for the second time in two years, after last-ditch negotiations with pilots failed to win the airline the $295 million in pay and benefit cuts it had been seeking.
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S Airways&#39; second trip to bankruptcy court holds both promise and peril for the nation&#39;s other major airlines. US Airways&#39; decision to seek Chapter 11 protection on Sunday could jolt unions
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Legal action is threatened after American and European trade leaders fail to agree on how government can help the aerospace rivals.
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US Airways Group Inc.  is set  to meet representatives of bankrupt Delta Air Lines Inc.   and a key group of its creditors in New York on  Thursday, sources familiar with the matter said.
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United Airlines could default on its bankruptcy financing agreement before the end of the year and is in talks with lenders about restructuring the deal, the company said on Thursday.
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US Airways and its largest lender yesterday struck a new financing arrangement that could free up $140 million while the strapped airline remains in bankruptcy -- but only if holdout unions agree to major cost cuts.
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As US Airways continues concession talks with pilots to avert a second bankruptcy filing, it&#39;s facing new strains with mechanics.
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Why EU-US talks on renewing a deal on the transfer of air passenger data collapsed.
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A group representing business travelers on Tuesday asked the US Congress to draft plans in the event that several major airlines are forced to liquidate.
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US Airways' efforts to extract $800 million in cost cuts from its unions and avoid a return to bankruptcy suffered a major setback when a divided pilots union refused to submit a contract proposal to its membership for a vote.
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The Federal Aviation Administration is facing some of the same problems that are driving the airlines to bankruptcy, rising costs and declining income.
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United Airlines is embroiled in disputes with unions and creditors as it nears a key deadline in its 25-month-old bankruptcy restructuring, running the risk of labor actions that could endanger its future.