United Plans Move to Void Union Pacts
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From Reuters
UAL Corp., parent of United Airlines, said it intended to file a Bankruptcy Court motion to throw out its labor agreements as early as next week if unions do not agree to wage cuts.
UAL attorney Jamie Sprayregen told a U.S. bankruptcy judge that United planned to keep working with the unions to achieve wage cuts. But without them, he said, the carrier would file a motion under Section 1113 of Chapter 11 of the U.S. Bankruptcy Code on Dec. 26.
Shares of UAL fell 23 cents to $1.27 on the NYSE.
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