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AFA-AFA-CWA Sells $182 Million Bankruptcy Claim To Give To Northwest Airlines Workers - 06/01/07By Doug Cunningham AFA-CWA, the union representing Northwest Airlines flight attendants, is providing an average of $14,500 per flight attendant to help offset losses suffered by workers during Northwest Airlines bankruptcy. The money comes from the sale of a $182 million bankruptcy equity claim. The union is getting nearly 65 cents on the dollar for the claim. The proceeds will be given to the workers 40 percent in cash and 60 percent as 401(k) contributions within two to three weeks. Some Northwest Airlines workers will also get stock in the bankruptcy reorganization after the union sued and won a $65 million judgment forcing the company to honor an agreement made with the workers in the ‘90’s. |
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