Dear Brothers & Sisters: Your TWU Equity Distribution Committee met again on May 23 and 24 at the TWU Headquarters in Washington D.C. to draft the procedures and principles for distribution of shares of Equity in the New American Airlines to eligible American employees represented by the TWU. During this week’s meetings, TWU’s counsel and…
Dear Sisters and Brothers, Several members have informed me that IBT organizers are distributing propaganda that claims that the TWU International will withhold equity that is rightfully due to our members. The TWU successfully negotiated the 4.8% equity, and it will be distributed to our members fairly, and with transparency. What seems to upset the…
The Debtors filed a motion seeking to approve the memoranda of understanding among certain of the Debtors, US Airways, Inc. and any successor (“US Airways”) and the various unions representing the employees of the Debtors and US Airways. The memoranda of understanding address the effect of the expected merger between American and U.S. Airways. With…
Your TWU Equity Distribution Committee met this week at the International Union’s offices in Washington D.C. to continue discussions on the 4.8% equity stake distribution for all eligible TWU members at American Airlines. The Committee, with the assistance of financial advisors and legal experts, has been working to ensure the plan of distribution is equitable…
When does the 4.3% pay increase take effect? The increase will be implemented as soon as the Company’s plan of reorganization is approved and it exits bankruptcy. Since merger with US Airways is part of this plan, the merger must also be approved before the Company exits bankruptcy. This process is moving quickly. On April…
Dear Brothers & Sisters: Your TWU Equity Committee met yesterday to begin discussions on how the 4.8% equity stake will be distributed to eligible TWU members at American Airlines. The Committee, with the assistance of financial advisors and legal experts, will ensure the plan of distribution is equitable and maximizes the value for TWU members. The…
AMR/American Airlines filed notice Thursday that the hearing on its disclosure statement has been moved to June 4 from May 30. So let’s do a revised, longer list of the dates going forward. Noon May 24 Deadline to file objections to the disclosure statement on the plan of reorganization. 10 a.m. June 4 Hearing before…
On the evening of April 15, 2013, American Airlines, Inc. and its affiliates (“AMR”) filed their proposed plan of reorganization (the “Plan”) and related disclosure statement (“Disclosure Statement”) with the Bankruptcy Court along with a motion (the “Motion”) requesting the Bankruptcy Court to establish various deadlines and hearing dates leading up to approval and confirmation…
SOURCE: gnom.es national news service But alas, after further reading, I returned to my normal state of cynicism when learning of new deca-million dollar bonuses paid to corporate managers. Perched high on bench in his lower Manhattan courtroom, U.S. Bankruptcy judge Sean Lane sang the praises of the proposed AMR Corp. (parent of American Airlines) and U.S. Airways…
By motion filed with the Court on February 22, 2013, the Debtors sought approval of AMR’s execution of and entry into an Agreement and Plan of Merger (the “Merger Agreement”) among AMR ,the so-called AMR Merger Sub, Inc. (“Merger Sub”), and US Airways Group, Inc. (“US Airways”), dated February 13, 2013. The Debtors submit that…