The article below from NYTimes.com has been sent to you by psa188@xxxxxxxxx /--------- E-mail Sponsored by Fox Searchlight ------------\ I HEART HUCKABEES - OPENING IN SELECT CITIES OCTOBER 1 From David O. Russell, writer and director of THREE KINGS and FLIRTING WITH DISASTER comes an existential comedy starring Dustin Hoffman, Isabelle Hupert, Jude Law, Jason Schwartzman, Lily Tomlin, Mark Wahlberg and Naomi Watts. Watch the trailer now at: http://www.foxsearchlight.com/huckabees/index_nyt.html \----------------------------------------------------------/ In Court, US Airways Presses for Pay Reduction October 8, 2004 By MICHELINE MAYNARD US Airways pressed its bid for emergency pay cuts yesterday, saying its bookings had dropped and its costs had increased since it entered Chapter 11 bankruptcy protection last month. But Judge Stephen S. Mitchell of Federal Bankruptcy Court in Alexandria, Va., did not rule on the airline's bid for 23 percent pay cuts and other reductions in workers' benefits, which the airline's unions oppose. Judge Mitchell said he would hear more arguments on the request on Tuesday. US Airways filed for its second bankruptcy in two years on Sept. 12, after workers did not grant $800 million in wage and benefit cuts. The concessions would have been the third set; two were granted in the airline's first bankruptcy, from which it emerged in April 2003. Lawyers for the airline said yesterday that US Airways would be in danger of liquidation without the emergency cuts, which the airline has asked the court to impose on unions that have not reached agreements on permanent cuts. "I wish that I had more cards to play," said Brian Leitch, the airline's lead bankruptcy lawyer. "We're at the point where there are not many options.'' The airline has reached a tentative agreement with only one major union, the Air Line Pilots Association. That deal, worth $300 million a year, calls for pay cuts of 18 percent and requires pilots to fly more hours each month. Voting on that deal will conclude Oct. 21. The airline is still talking with its flight attendants, mechanics and reservation agents. US Airways wants concessions worth $950 million a year from its unions, or $150 million more than it sought before its recent bankruptcy filing. David M. Davis, chief financial officer at US Airways, said bookings in October had dropped, apparently because customers were concerned about the airline's future. Bruce R. Lakefield, chief executive at US Airways, told reporters: "We need every passenger on the plane that we can get. There's no doubt that we need the money." The four hurricanes that struck parts of Florida in the last two months hurt US Airways, like other airlines. The company said it lost $20 million to $25 million in revenue. In addition, jet fuel prices have risen nearly 50 percent from 2003, creating a severe strain for US Airways and its competitors. If prices stay at current record levels, the airline said, fuel could cost it $200 million to $300 million more than it anticipated when it sought bankruptcy protection. Given all those factors, Mr. Davis said that the airline's cash, which stood at $750 million when it sought court protection last month, could fall as low as $313 million by mid-March. The airline said that was an unacceptable level. Union representatives denounced the company's efforts to cut pay and benefits, saying it had not done enough to reduce its costs. Kristin A. Lee contributed reporting from Alexandria, Va., for this article. http://www.nytimes.com/2004/10/08/business/08air.html?ex=1098242618&ei=1&en=898f2d1e59abd15b --------------------------------- Get Home Delivery of The New York Times Newspaper. Imagine reading The New York Times any time & anywhere you like! Leisurely catch up on events & expand your horizons. Enjoy now for 50% off Home Delivery! Click here: http://homedelivery.nytimes.com/HDS/SubscriptionT1.do?mode=SubscriptionT1&ExternalMediaCode=W24AF HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2004 The New York Times Company