Dear Brothers and Sisters, The following 1113 term sheets were provided to the TWU Negotiating Committees. Although narrow, we will do our best to mitigate the proposals. We are planning to review the Company’s Business plan with our attorneys and the financial analysts hired by President Little. The savings that the Company has proposed is…
Category: Bankruptcy
Letter from: Thomas W. Horton Chairman and Chief Executive Officer Feb.1, 2012
Dear American Team: American Airlines Several weeks into our restructuring process we continue to make progress on a comprehensive plan to restore American to industry leadership, profitability, and growth. From my travels around the system and talking with so many of our folks, I know the fierce commitment we all share to making American a…
Today’s the day of the bad news at AMR, American Airlines and American Eagle
This from: Dallas News Here’s what we expect, in general: Around 10 a.m., chairman, president and CEO Tom Horton will begin describing the company’s business plan for reorganization as he meets with leaders of the Allied Pilots Association, Association of Professional Flight Attendants and Transport Workers Union. Beverly Goulet, vice president, treasurer and chief restructuring officer,…
Sullivan Meets with American Airlines CEO Tom Horton
Washington, Jan 25 – Today, Congressman John Sullivan met with American Airlines CEO Tom Horton, to discuss issues surrounding the companies bankruptcy filing. “We had a productive meeting – American Airlines is the largest private employer in Oklahoma, and big part of the Tulsa community. I appreciate him taking the time to speak with me so…
PBGC files liens on American assets as the carrier didn’t make its full pension payment in Jan.
The Pension Benefit Guaranty Corp. said it has placed liens on some of American Airlines’ assets in Texas and overseas since the carrier did not make its full $100 million pension payment due in January. The agency said it filed over 70 liens, totalling $91.7 million, on behalf of the four pension plans that American…
Union Announces Effort To Support American Airlines Jobs In Tulsa
American Airlines’ maintenance base in Tulsa. The union which represents many of the American Airlines employees at Tulsa’s maintenance base announced a new effort Monday to support American Airlines jobs in Tulsa. The Transport Workers Union is worried their jobs may be moving to help American Airlines get out of bankruptcy. American Airlines has more…
AMR – Pleading Update 01/27/2012 – Bankruptcy
Notice of Presentment of Stipulation and Order Approving Extension for N9420D The Debtors filed a notice of presentment of a stipulation and order between the Debtors and AWAS Aviation Acquisitions Limited, MSA I, and Wilmington Trust Company approving a Section 1110(b) extension for tail number N9420D. Presentment Date is February 3, 2012 at 4:30 p.m. …
AMR – Hearing / Docket Update 01/27/12 – Bankruptcy
HEARING UPDATE The Court considered and granted the Motion of Debtors for Entry of Order Pursuant to 11 U.S.C. Sections 105(a), 345(b), 363(b), 363(c), and 364(a) and Fed. R. Bankr. P. 6003 and 6004 (A) Authorizing Debtors to (i) Continue Using Existing Cash Management System, (ii) Honor Certain Prepetition Obligations Related to the Use Thereof,…
AMR Bankruptcy – February 1st Meetings
Dear Brothers and Sisters: The meetings scheduled for February 1, 2012 will take place at Flagship University in the Americana Room . The AA group will meet at 10:00 am and the purpose of this meeting is to initiate the process for changes to our collective bargaining agreements pursuant to Section 1113 of the Bankruptcy…
AMR Bankruptcy Update: Robert Gless, January 25, 2012
American Airlines has asked the TWU International to convene the AA TWU Negotiating Committees in Dallas next Wednesday, February 1, 2012. We are in the process of obtaining additional details regarding this request. We plan to schedule a conference call with the Negotiating Committees tomorrow and anticipate having additional information at this time. As of…