To: AA Local President’s & Members Re: Pre-funding Trust Review Brothers and Sisters, In follow up to the discussions at the October 19th and 20th 2011 Presidents’ Council meeting and per requests from the Title Ill Negotiations team we have had TWU General Counsel, along with outside counsel and prior negotiators of the critical agreements…
Category: Bankruptcy
Statement from PBGC Director Josh Gotbaum on AMR Corp. Bankruptcy
WASHINGTON—Pension Benefit Guaranty Corporation Director Josh Gotbaum released the following statement today on the Bankruptcy Filing of AMR Corp.: “Today American Airlines’ parent company filed for bankruptcy. When this happens employees and retirees worry — and they should. In past bankruptcies, workers and retirees have lost their healthcare and seen their pensions cut. Based on…
Court Orders Received: AA Bankruptcy
AMR and American Airlines, American Eagle Receive Court Orders Enabling Continued Normal Business Operations.
Court Update 11/29/11 Final
The first day hearing is drawing to a close. Certain of the orders approving the first day motions require minor modifications to accomodate comments by the court and certain other parties in interest. The debtors will revise the orders and submit them to the court for entry later this evening. We will send copies of…
Letter from Daniel Garton to Jose Galarza
Dear Jose: As you know, the AMR Board of Directors has determined that it is necessary for AMR and its affiliates, including American, American Eagle, Executive, and EASI to file a Petition under Chapter 11 of the Bankruptcy Code. Over the past several years, we have made you aware of the cost challenges that Eagle…
What is happening to my pension during Bankruptcy?
Present retirees will still get their retirement. There is no changes to the present retirees pension plan at this time. If you are going to retire sometime in the future just know that you are entitled to all of your retirement benefits that you are vested in at this time.
Court Update 11/29/11, Bankruptcy 2011
By way of update, we are currently in court for the first day hearing in this case. The court just granted the debtors’ motions: to pay critical vendors in the debtors’ discretion ($50mm for the next 21 days); to pay foreign creditors; to pay fuel suppliers; to honor and enter into derivatives agreements in the…
Letter from James C. Little to the AA/Eagle Membership
Dear Sisters and Brothers: For years, TWU members have joined together to fight for fairness at American Airlines and American Eagle. We’ve had some long hard battles. We now face a new challenge, as a result of a decision by management at AMR to file for Chapter 11 bankruptcy protection. While we believe this bankruptcy…
Business Bankruptcy 101 An Overview of Employer Bankruptcy for Union Employees and Retirees
This fact sheet is intended to explain the basics and significance of corporate bankruptcy from a Union employee’s perspective. It is not meant to constitute a legal opinion or advice, and does not replace independent consultation with an attorney. Each employer and employee’s situation is unique. Accordingly, contact the Legal Department with any questions if…
Statement by President James C. Little on Bankruptcy Filing by American and American Eagle
Nov 29 2011 We are very disappointed by today’s action by AMR. The Transport Workers Union will do everything possible to protect our members at both American Airlines and American Eagle. Work at both airlines will continue through the Chapter 11 reorganization. Our union had tried to work with AMR managers to make the company…