Manufacturing Industry
US airline aid argument delays private pension reform bill
Airline Industry Information, Oct 6, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
A dispute over special aid for US airlines has stalled the country's private pension reform.
Texas Republican Senator John Cornyn has placed a procedural block on the pension reform bill. Without this action, the pension reform may reportedly have reached the Senate this week. Cornyn said he placed the "hold" on the bill until the conflict over aid to airlines has been solved, Reuters reported. The Senator added that he took the action after complaints from American Airlines and Continental Airlines over a provision that could allow competitors in Chapter 11 bankruptcy protection to postpone pension payments for years.
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