YRC May Back Pensions with Real-Estate Portfolio

YRC Worldwide is in discussions with the Teamsters union to potentially allow the company to provide some of its real estate as collateral to back its pension obligations, Bloomberg reported Monday.

The less-than-truckload carrier makes monthly pension payments of between $34 million and $45 million per month, Bloomberg said, citing a YRC regulatory filing.

YRC, ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers, said last week that its first-quarter freight fell 29%.