Work stoppage looms for World Airways

Work stoppage looms for World Airways    Pilots for World Airways could go on strike by the end of January after federal mediators released the two sides from mediation process and started the clock on a 30-day cooling off period before an unilateral action can be taken by the parties.
   Both sides had requested to be released from mediation after the company’s latest offer was rejected. The company has 430 pilots operating wide-body passenger and cargo jets for commercial customers and the U.S. military. Under the terms of the pilots' contract, transport for the military would continue uninterrupted even during a work stoppage.
   World and the International Brotherhood of Teamsters have been trying to negotiate a new contract since 2003 and have continued talks under the auspices of the National Mediation Board since January 2004.
   The National Mediation Board last week recessed talks between UPS and the International Pilots Association, which asked to be released from mediation.
   Meanwhile, the Nasdaq stock exchange granted a listing extension to World Air Holdings, parent of World Airways, until Jan. 15. Nasdaq had initially given World Air until Dec. 15 to file an amended quarterly report with the Securities and Exchange Commission or be delisted from the exchange.