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House votes to stop UAL pension default
The drama continues.
B) UT
WASHINGTON (Reuters) - The U.S. House of Representatives on Friday voted to block bankrupt United Airlines from defaulting on its pension plans and shifting them to the Pension Benefit Guaranty Corp. (PBGC).
The provision was attached to a spending bill expected to pass the chamber later in the day. The bill would still have to pass the Senate before it could take effect.
More than 30 Republicans joined the proposal's Democratic sponsors in supporting the measure by a vote of 219-185. It would stop the PBGC from carrying out a court-approved agreement to take over four pension plans from the bankrupt airline.
The drama continues.
B) UT