All TWU Negotiating Committees representing American Eagle work groups met internally today and began their pre 1113 data requests. Some committee’s are preparing questions regarding the term sheets presented by the company yesterday. The Eagle staff discovered one error in the Fleet Service term sheet regarding health benefit eligibility. The revised term sheet is posted on the TWU bankruptcy web site, (page 5, V Benefits, Attachment E).
TWU’s economist, John Donnelly and our legal advisor met with America Eagle finance specialists this morning and received the company’s business plan model. Over the weekend Donnelly will be analyzing and bench marking the company’s model.
American Eagle seeks $12 million in annual savings from TWU represented members. The majority of cost savings are targeting Maintenance and Related and Fleet Service workers. During this weekend the Negotiating Committee will continue their review of the term sheets and begin to draft their specific questions. The Negotiating Committee will reconvene on Monday March, 26 at Flagship University.