US Airways and its pilots' union were in the final stages yesterday of reaching a tentative agreement on cost cuts, a union spokesman said.þþThe agreement would give a crucial lift to an application that US Airways filed last month seeking a $900 million federal loan guarantee.þþÿWe're in the final phases here,ÿ the union spokesman, Roy Freundlich, said, ÿbut there's not going to be any announcement prior to Monday on anything.ÿþþThe airline, the nation's sixth largest, has been trying to wring $595 million of cost cuts from its pilots. The union recently offered $410 million and agreed over the weekend to give more. Mr. Freundlich declined to provide details.þþNegotiators held conference calls over the weekend. Mr. Freundlich said the issues that still required the most work related to job security and financial paybacks like stock options and profit sharing that would be given to the pilots in exchange for the immediate cuts.þþUS Airways did not return a call yesterday afternoon seeking comment. It had said it did not want to talk about continuing negotiations.þþMr. Freundlich said the pilots had also agreed to allow the carrier to increase its fleet of regional jets to 465, in exchange for having regional jet subsidiaries provide jobs to some of the 1,070 pilots now on furlough.þþUS Airways was hard hit by the terrorist attacks on Sept. 11 because most of its routes are on or near the East Coast. It lost $2 billion last year. þ
Source: NY Times
