Pilots OK US Airways Plan As Chap. 11 Threat Looms

US Airways' restructuring plan was ratified by the carrier's pilots yesterday after more than three-quarters of voting Air Line Pilots Association members approved concessions. Tentative agreements also have been reached with the Association of Flight Attendants and the Transport Workers Union, but other unions, notably the International Association of Machinists, have yet to agree to concessions.

Meanwhile, following a meeting yesterday with bondholders, the carrier said, "Neither company representatives nor its advisers participating in today's meeting provided any such assurances" that missed debt payments will be paid and that company restructuring will be accomplished without a bankruptcy filing. The statement added that "a Chapter 11 filing would be required to obtain the necessary relief from stakeholders" should voluntary restructuring fail.