Release #04.UAL6 Statement by the United
Master Executive Council, Air Line Pilots Association Regarding Today's Action by
The Pension Benefit Guarantee Corporation
"We deplore the PBGC's
ill-timed attempt to retaliate against the United pilot group in the United
bankruptcy proceeding.
ALPA's tentative agreement
with United does not permit the termination of the pilot pension plan without a
final judicial determination that pension
termination is necessary for the Company to emerge from bankruptcy or at any
point prior to May 1, 2005. As the PBGC is
well aware, there are no grounds for the termination of the pilot pension plan.
ALPA will vigorously oppose
any effort by the PBGC to take over the plan before May 1, 2005 or to single out the pilot group for punitive and
vindictive treatment in the United
bankruptcy. Under the terms of the
tentative pilot agreement, the Company has also agreed to oppose any attempt to terminate the pilot pension plan prior to May 1, 2005.
In addition, the tentative
pilot agreement requires United to continue the pilot pension plan if any other
United employee group maintains a defined benefit pension program following the
bankruptcy. We will vigorously enforce
that right against the PBGC or any other party that seeks to single out the
pilot group for unfair treatment in the bankruptcy proceeding.
We are equally concerned about
the timing of the PBGC action in the midst of a pilot membership vote over the
tentative pilot agreement. We question whether the PBGC's action may be designed to confuse the pilot group,
undermine the membership ratification process and deprive the pilots of the
benefits and protections of the tentative agreement. If so, today's action is an outrageous ploy by the PBGC to harm the very
employee interests that the agency is sworn to protect.
The pilots of United Airlines
are critical to the reorganization of this Company and, by far have sacrificed
the most to save the airline. We demand to be recognized and compensated for our unique contributions, and we will take
every lawful action necessary to protect the interests of the United pilots
against the PBGC or any other party in this proceeding."
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Contacts:
Dave Kelly
Captain Herb Hunter
Captain Steve Derebey
847/292-1708
954/757-4067
815/341-4629
December
30, 2004
12-30-04: Statement from Captain Duane Woerth, ALPA President, on United Pilot Pensions