Category: Bankruptcy

September 24 TWU Reserve/Equity Fund Distribution Update

Dear Brothers and Sisters: As a follow up to Friday’s conference call with TWU American Airlines Presidents, below is a summary of the latest developments, with respect to the TWU Reserve/Equity fund distribution: • First and foremost, the next equity distribution of $35,900,000 is expected to go out for distribution to eligible members in November.…

Equity Update

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TWU Reserve/Equity Fund Distribution Update

TO: AA Locals 501 – 591 Dear Brothers and Sisters: As a follow up to today’s conference call with TWU American Airlines Presidents, below is a summary of the latest developments, with respect to the TWU Reserve/Equity fund distribution: – First and foremost, I am happy to announce that the TWU International was successful in…

Equity Update from TWU International Vice President – Gary Peterson

January 20, 2018 Brothers and Sisters: As a follow up to yesterday’s conference call with TWU Presidents, below is a summary of the plan that has now been agreed upon between TWU and American Airlines, with respect to the TWU Reserve/Equity fund distribution. The earliest the distribution will be is late May/early June, assuming all…

Eligibility for Participation in Equity Distribution

The general rule for eligibility to participate in the distribution  is: an employee was in the TWU represented craft/class and active employee on payroll, approved leaves of absence on both the date of American’s filing its petition for bankruptcy (November 29, 2011) and the closing date for eligibility (July 26, 2013). Does not exclude RIF…