Will There Be Any Pension Plans Left?

Since two bankruptcy judges have allowed US Airways and United to walk away from their obligations to the employee pension funds the incentives are now clear. File for bankruptcy and dump the financial liability as soon as possible.

Northwest and Delta Are Said to Be Preparing for Bankruptcy - New York Times:

"Northwest Airlines and Delta Air Lines are both preparing to seek bankruptcy protection as soon as Wednesday, people close to both companies said today.

Northwest and Delta are each finishing the details of their bankruptcy cases, including the financing that they will require to operate under bankruptcy protection, these people said. That could cause delays, but the fundamental work of preparing each bankruptcy case is complete, they said."