Flying Tiger announced that it isn’t for sale.

The financially troubled Los Angeles company rescinded an earlier decision to take bids on its assets because it has obtained wage and benefit concessions from its two largest employee groups. The 2,200 employees who are members of the International Assn. of Machinists agreed to 15% in wage cuts and a $10-million reduction in fringe benefits. The three-year contract is expected to save the company more than $20 million a year. Its pilots union earlier agreed to bigger cuts. The firm also reached a tentative agreement with its 200 flight attendants under which they will take 15% in wage cuts.