As the American Airlines bankruptcy saga continues, the federal pension agency's intimate connection with the case increased Thursday when its leader met with the airline pilots' union in a behind-closed-doors session.
The Dallas Morning News reports that PBGC director Josh Gotbaum and senior PBGC financial analyst Suzanne Kelly met with the Allied Pilots Association board of directors, filling them in on the latest in the American bankruptcy.
On Nov. 1, American's parent company, AMR Corp., was given approval to freeze the existing pilot pension plans, a compromise position as the company had initially tried to terminate its pensions and drop the responsibilities into the PBGC's hands.
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