United Airlines, the embattled air transport operator, looks set to spark the biggest pension default in US corporate history as it approaches bankruptcy proceedings. And with investors in US Airways and Delta Airlines also eyeing Chapter 11 proceedings, it seems the worst may be yet to come for employees at US airlines. United’s pension fund obligations amount to $6.4 billion and would add to the $9.4 billion deficit already assumed by the Pension Benefit Guarantee Organisation (PBGO), the federal agency that insures US corporate pension plans.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
