OTHER NEWS - Oct. 1, 1992
From Times Staff and Wire Reports
TWA Pilots, Attendants OK Wage, Benefit Cuts: Trans World Airlines pilots and flight attendants joined the airline’s machinists in accepting wage and benefit concessions in exchange for a 45% ownership stake in a reorganized TWA. Members of the Independent Federation of Flight Attendants and the TWA branch of the Air Line Pilots Assn. agreed to 15% annual wage and benefit cuts for three years, the unions said. TWA’s machinists union approved the plan earlier this month. The votes clear the way for TWA to focus on a settlement with the Pension Benefit Guaranty Corp., the agency that guarantees private pension funds.
