US Airline Pilots Association Sues Pension Benefit Guaranty Corporation

Lawsuit Seeks Removal of PBGC as Trustee of US Airways Pilots` Pension Plan and
Requests Appointment of Temporary Trustee to Investigate Claims of Fund
Mismanagement
CHARLOTTE, N.C.--(Business Wire)--
The US Airline Pilots Association (USAPA) today filed a lawsuit against the
Pension Benefit Guaranty Corp. (PBGC) in federal court seeking the removal of
the PBGC as trustee of US Airways pilots` pension plan and requesting the
immediate appointment of a temporary trustee to perform the investigatory
functions that the PBGC has refused to perform on behalf of pension plan
beneficiaries since 2003.

USAPA asserts that the PBGC breached its fiduciary duty to the fund and its
thousands of beneficiaries by failing to comply with its duties required under
the Employee Retirement Income Security Act of 1974 (ERISA). The suit also
requests the U.S. District Court for the District of Columbia to immediately
appoint and empower another trustee of the Retirement Income Plan for Pilots of
US Airways Inc. to perform the statutory and fiduciary duties required under
ERISA and to investigate the plan`s financial affairs. These are actions that
USAPA believes the PBGC failed to take as required by federal law.

"The PBGC has not fulfilled its obligation as trustee of our pilots` retirement
fund," said Captain Mike Cleary, president of USAPA. "Our own investigation has
uncovered a number of questionable circumstances surrounding activities and
investments of our retirement fund prior to its termination. Our request to the
PBGC for a thorough investigation has fallen on deaf ears, so we are asking the
court to appoint a trustee who will do its due diligence in this matter and
investigate the management, or perhaps the mismanagement, of our pilots`
retirement fund."

The PBGC assumed control of the pilots` pension on March 31, 2003, when US
Airways terminated the plan during its bankruptcy proceedings over the
objections of the pilots.

Headquartered in Charlotte, N.C., the US Airline Pilots Association (USAPA)
represents more than 5,000 US Airways pilots in seven domiciles across the
United States.

The US Airline Pilots Association
Captain James Ray, 980-875-7642

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