Feds Pressure American Airlines To Save Pensions - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Feds Pressure American Airlines To Save Pensions

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DALLAS (AP) - The federal pension-insurance agency is increasing pressure on American Airlines to save its retirement plans instead of dumping its pension obligations.

The Pension Benefit Guaranty Corp. said Tuesday it filed liens totaling $91 million against some assets of the airline's parent company, AMR Corp., which filed for bankruptcy protection in November.

Last week, AMR paid only $6.5 million of a scheduled payment of nearly $100 million for its pension plans.

AMR and its lawyers have raised the possibility that the company might freeze or terminate retirement plans that cover about 130,000 employees and retirees. The company could make its intentions clear on Wednesday, when it presents new contract proposals to its unions.

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