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How the PBGC Enabled the American/US Airways Merger
TheStreet.com Link to more items from this source
Apr. 21, 2015

"American filed for bankruptcy protection in November 2011. 'On the day that American filed, they announced "we cannot afford our pension plan and we will have to terminate it the way the other airlines did," ' [former PBGC Director Josh Gotbaum] recalled.... The agency began talks with the carrier and its unions about how to preserve the plan by making changes elsewhere in the labor contracts. 'PBGC showed the various unions that there were ways to keep their pensions,' Gotbaum said."

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