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Union Coalition at United Airlines Agrees on $5 billion Recovery Plan |
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| Contact: Joseph Tiberi, IAMAW 301-529-9341 (cell) FOR IMMEDIATE RELEASE Union Coalition at United Airlines Agrees on $5 billion Recovery Plan Washington, D.C., September 25, 2002 – The United Airlines Union Coalition presented a counter proposal today to United Airlines’ August 29 proposal for $9 billion in employee cost reductions over six years. The Coalition offered a combined savings from all unionized employees totaling $5 billion over the next five years. Allocation of the savings among the unions and specific cost saving initiatives have not yet been determined and will be the subject of further discussions with United Airlines. “In recognition of United’s precarious financial condition and in accordance with our collective bargaining agreements, the IAM agreed to enter into discussions with the carrier in an attempt to avoid a United Airlines bankruptcy,” said District 141-M President Scotty Ford. “We also hope our commitment will help United qualify for an Air Transportation Stabilization Board loan guarantee.” “Our discussions with United Airlines will include several cost savings proposals, including tapping United’s best asset for ideas on how to save money – our members,” said District 141 President Randy Canale. “Any discussion must also include recognition for the substantial sacrifices Machinists Union members have already made to United’s recovery efforts.” IAM members ratified agreements in March and May providing a $500 million loan to the company in deferred retroactive wages. “We are pleased we came to an agreement with our coalition partners,” added Canale. “We await a response from United Airlines so we can move the process forward.” The IAM represents 35,000 employees at United Airlines, including Ramp Service & Storekeepers, Mechanic & Related and Public Contact Employees. -30- |
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