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Today in Aviation History
1783
First human balloon flights. A Frenchman, Jean Pilâtre de Rozier, made the first captive-balloon ascension (Oct. 15). With the Marquis d'Arlandes, Pilâtre de Rozier made the first free flight, reaching a peak altitude of about 500 ft, and traveling about 5 1/2 mi in 20 min.
2004
A passenger plane crashes into a frozen lake near the city of Baotou in the Inner Mongolia region of northern China, killing all 53 on board and two on the ground.
 
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 Mechanics concerned about United pension plan
Posted on Wednesday, July 21, 2004 @ 20:21:21 EDT by deccal
Airline News WASHINGTON, July 21 (Reuters) - United Airlines (OTC BB:UALAQ.OB - News) mechanics fear a decision by the carrier to defer $72 million in pension payments will have a severe long-term impact on their retirement benefits, the union said on Wednesday.

O.V. Delle-Femine, national director of the Aircraft Mechanics Fraternal Association, said that interest is occurring on the deferred amount and putting pension plans at greater risk.

"If United is unable to make up the deferred payment with interest, this will cause major problems with the plans," Delle-Femine said after a meeting between union and airline executives.

United, a unit of UAL Corp., deferred its quarterly pension payment last week to give it more flexibility for managing resources as it tries to secure investors for bankruptcy exit financing.

 
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