US Airways CEO Issues Salary Warning
Associated Press
US Airways Chief Executive David Siegel is warning employees that the struggling airline can no longer afford to pay salaries comparable to those at its largest competitors.
Siegel said the company will continue to meet its contractual obligations. But he warned that management may soon seek across-the-board concessions from its unions.
Roy Freundlich, a spokesman for the US Airways unit of the Air Line Pilots Assn., said the union would reject any efforts to extract pay concessions.
Shares of the Arlington, Va.-based airline rose 14 cents to $6.54 on the NYSE.
