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TWA PILOTS' UNION RATIFIES NEW CONTRACT, PROVIDES MOMENTUM FOR REVITALIZED AIRLINE

TWA PILOTS' UNION RATIFIES NEW CONTRACT, PROVIDES MOMENTUM FOR REVITALIZED
 AIRLINE
 ST. LOUIS, Sept. 30 /PRNewswire/ -- The pilots of TWA early this morning overwhelmingly ratified the proposed agreement that was presented to them in early September. By a majority vote of over 94 percent, the pilots indicated their solid support for their union leadership's direction and efforts in securing the futures of the airline's pilots by ensuring a viable TWA.
 The ratification will provide increased momentum for TWA as it proceeds with its plan to revitalize operations and restore viability.
 Under this agreement, the pilots will provide financial relief to the airline by reducing the cost of their wages and benefits by 15 percent, with offsets, for three years. In return, the union received requirements for addressing TWA's pension shortfall, and for ensuring appropriate changes to TWA's operational structure.
 The TWA pilots, represented by the Air Line Pilots Association, overwhelmingly accepted the new contract with a majority vote of over 94 percent. Over 91.5 percent of the eligible pilots submitted ballots.
 Bill Compton, chairman of the pilots' union at TWA, provided the following comments:
 By ratifying this new contract, the TWA pilots have indicated to their union leadership their solid support for the direction in which we have been moving over the past year. TWA has made significant progress during the near term in overcoming many of the key obstacles in its attempt to reorganize, especially with the installation of our new professional management team headed by Glen Zander and Robin Wilson. Now, with this new contract in place, the TWA pilots have not only removed an obstacle from the process but will help to provide the momentum necessary to launch the rebirth of our new company. Now energies can be focused on the PBGC's settlement with Mr. Icahn to resolve the funding issues for TWA's pension plans.
 In accepting this new contract, the TWA pilots confirm their solidarity and motivation to unite with our new professional airline management -- a management that is committed to TWA's long- term viability and the futures of the TWA employees.
 By agreeing to contribute approximately $540 million during the three-year term of the agreements with TWA, all of TWA's employees have shown their dedication and commitment to an airline in which they will hold a large ownership stake. We are hopeful that the flying public will embrace our efforts and join us in rebuilding TWA.
 -0- 09/30/92
 CONTACT: Marc Spiegel for the Air Line Pilots Association, 314-542-0300 CO: AIR LINE PILOTS ASSOCIATION; TWA IN: AIR ST: MO -- DC017 -- X442 09/30/92
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Publication:PR Newswire
Date:Sep 30, 1992
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