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United Airlines Still Faces Bankruptcy

United Airlines' flight attendants have approved $412 million in wage reductions.

The flight attendants overwhelmingly ratified a contract with management, but it's unclear if the vote means anything.

Their concessions, like the $2.2 billion in concessions from pilots, won't take hold unless the mechanics go along and the mechanics decisively rejected $118 million in average annual givebacks earlier this week. United has reopened talks with union leaders.

The reductions are part of an effort to keep the financially strapped airline out of bankruptcy court.

The company needs the concessions from the workers to receive a $1.8 billion federal loan guarantee that would enable it to obtain $2 billion it needs in private loans.


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