The TWU Equity Distribution Committee has completed its work of developing TWU’s plan for distribution of the equity TWU will received once American Airlines emerges from bankruptcy. After consideration of the input provided by members at the road show meetings, as well as the comments received by mail and email, the Committee re-affirmed the outline…
Category: Bankruptcy
Title II Members: Stand-in Stead sign up August 9-10, 2013
To all Title II Employees As most of you are aware, the reduction in force that started in November 2012 was put on hold until the 2nd quarter 2013. We are currently in the process of finalizing the staffing requirements going forward, but before doing so we wanted to be certain that we mitigate…
AMR Bankruptcy Update – July 30, 2013
Brothers & Sisters, I wanted to give you a short update on the AMR Bankruptcy. The voting deadline for creditors on the Plan of Reorganization ended yesterday and those votes will be counted and verified in the next day or two. We’ll know the unofficial results in the next few days, but the actual court…
AA Bankruptcy Court Update , 7-26-2013
The Court’s July 25, 2013 hearing lasted approximately three hours. Reserves Motion. The Debtors filed a motion seeking to establish the maximum amount of disputed claims to be utilized to establish a reserve for disputed claims under the proposed plan of reorganization and to establish procedures for the objection, estimation, and resolution of such claims.…
Equity Distribution Update 7-16-2013
Dear Brothers & Sisters: The TWU Equity Distribution Committee, legal counsel and the Presidents Council met on July 16, 2013 at the ATD office in Hurst, Texas to review the draft Equity Distribution Plan. We discussed in detail the many comments and suggestions received from the TWU membership while visiting the various stations on the…
The Facts and Moving Forward
The past year has been a very challenging one. The bankruptcy process has been very stressful on our members. But, we secured an agreement that is far better than any other union has negotiated with a bankrupt company. In fact, the TWU scope protection protects more good paying jobs than any other labor agreement in…
AMR & US Airways Merger Information for AMR Investors (Updated 4/17/2013)
Important note: The brief answers below are provided for informational purposes only and are not intended to be a substitute for a careful review of the relevant documents, which include the Merger Agreement and Support and Settlement Agreement which were filed by AMR Corporation (“AMR”) with the Securities and Exchange Commission (the “SEC”) as exhibits…
TWU Members Currently Owning AMR Stock Will Vote on POR
On June 20, AMR mailed copies of their Plan of Reorganization (POR) to all creditors, members of the Unsecured Creditors Committee, and all individual owners of AMR stock. The purpose of the mailing is to provide recipients the opportunity to review the POR and vote on it. Those of us that held AMR Stock Options,…
More on the TWU Equity Distribution – July 8, 2013
The formula for distribution of stock to American’s unsecured creditors, including all labor groups, is complex and a number of members have asked for further clarification. The TWU has negotiated for our members to receive actual stock with considerable value. This stock will be distributed directly to our members as soon as American exits bankruptcy…
Equity Distribution Update, July 3, 2013
Dear Brothers & Sisters: The TWU Equity Distribution Committee met on July 2, 2013 at the ATD office in Hurst, Texas to review the draft Power Point presentation (attached) as presented by your TWU Equity Distribution Committee, legal counsel and professional advisors. We discussed, in detail, the many comments and suggestions received from the TWU…