This is Roy Freundlich with US Airways MEC update for Wednesday, February 5, with three new items:
Item1. As previously reported, and in a legal notice to you from US Airways, US Airways Group and its affiliated debtors have filed a motion in the United States Bankruptcy Court for the Eastern District of Virginia seeking a determination that the debtors satisfy the financial requirements for a distress termination of the retirement income plan for pilots of US Airways, Inc. (the DB Plan), approving the termination of the DB plan, and authorizing the debtors to implement a defined contribution plan.
The motion is currently scheduled for hearing on February 20, 2003 at 11:30 a.m., with an objection deadline currently scheduled for February 13, 2002. ALPA has filed a grievance challenging the company''s unilateral action to terminate the pilots'' plan, and intends to file an objection in the bankruptcy court by the required objection date and vigorously oppose the debtors'' motion at the hearing.
Under the Railway Labor Act ALPA is the designated collective bargaining representative for the incumbent US Airways pilots and not for retired pilots. In many instances, the interests of incumbent pilots and retired pilots may overlap. However, that may not always be the case on all issues. As noted, ALPA has taken and intends to take the actions previously described in connection with the Company''s proposed termination of the DB Plan. In addition, retired pilots or other participants may take any legal action in the bankruptcy court that they feel is appropriate.
Item 2. The Retirement and Insurance Committee, Negotiating Committee, along with the assistance of ALPA''s benefits and legal advisors, are working on the pension issues and exploring all other avenues to resolve this issue, per MEC direction, at the ALPA offices in Herndon. The committees are keeping the MEC informed of their activity. Any information that becomes available will be reported.
Item 3. On Tuesday, February 18, 2003, from 8 a.m. to 4 p.m. an Open House is being held at the IAM Union Hall in Moon Twp., PA, for union members from ALPA, IAM, AFA, TWU and CWA, who have been furloughed or are facing a furlough. The Potomac Air Lodge Local 1976 Union Hall is located at 228 Moon Clinton Road.
The representatives attending are from Rapid Response, United Way Agencies from Beaver and Allegheny Counties, Robert Morris University, US Airways Federal Credit Union and financial advisors. They will be available for employment and education questions as well as their services. Spouses are welcome. For additional information or questions, please contact Bill Hollowood at 412-472-4381.
Please remember as of February 4 we have 1,827 pilots on furlough.