The Paine Webber-led investment group that plans...

The Paine Webber-led investment group that plans to take over Braniff Inc. said it will expand the airline and has no plans to reduce the size of its fleet or withdraw from any of the cities it serves. It said it has entered into a three-year agreement with labor unions to “preserve, protect and continue” the jobs of employees of Braniff and its Florida Express subsidiary. “Certain non-essential leasehold interests” of Braniff, which are understood to be airport landing slots and gates, will be sold to American Airlines, the investment group said. Paine Webber also said “senior executives from some of the nation’s most successful airlines” will join Braniff. There have been unconfirmed reports that some of them are now or once were with Piedmont Airlines, which has been taken over by USAir.