Only FedEx/UPS have pensions. The passenger airlines dropped them a couple of decades ago, post 9-11. In its place is a 401(k) (=PFund). Untouchable in bankruptcy proceedings. The company can’t access it.
CH11 is a thing, but big difference is only the Judge gets to tear up contracts, not a profit-making airline as Cathay was at the time.
Last edited by Verbal Kint; 17th July 2025 at 13:44.