SOURCE, Dallas Morning News Tom Fox/Staff Photographer Wil the new American Airlines design remain as it is on fresly painted planes? An American exec says yes, but Doug Parker, who will be CEO of the combined company, doesn’t seem 100 percent. By TERRY MAXON Staff Writer tmaxon@dallasnews.com Published: 03 June 2013 11:20 PM Updated: 03 June 2013…
Category: Bankruptcy
Equity Distribution Update, May 30, 2013
Dear Brothers & Sisters: The AA Presidents Council met on May 29 & 30, 2013 at the ATD office in Hurst, Texas to review the Power Point presentation and the preliminary plan document as presented by your TWU Equity Distribution Committee and legal counsel. We approved the Equity Distribution Plan and revised the presentation that…
AA Bankruptcy Court Update May 30, 2013
The Bankruptcy Court today held a hearing on the Debtors’ motion seeking entry of an order approving the memoranda of understanding (the “MOU”s) among certain of the Debtors, US Airways, Inc. and any successor (“US Airways”) and the unions representing the Debtors’ and US Airways’ pilots and certain of the Debtors, US Airways and the…
Equity Distribution Update May 24, 2013
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…
Letter from TWU President James C. Little Re: TWU- Equity stake, Dated 5-20-2013
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…
AA Bankruptcy Court Update May 10, 2013
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…
AA/TWU Equity Distribution Update May 9, 2013
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…
Update on Merger, Pay Increases and Equity Stake
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…
RE: Equity Distribution
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…
We have revised dates for the bankruptcy hearings on the AMR/AA plan of reorganization
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…