Thursday, September 15, 2005

Delta and Northwest file for bankruptcy

Both companies are plagued by high operating and legacy costs, and both companies will likely want to terminate their defined benefit pension plans and dump their unfunded liabilities on the PBGC. If Delta and Northwest dump their pension plans on the agency, it would add an estimated $12.4 billion in new unfunded liabilities.

[DUH! Fixed embarrassing typo in post title.]

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