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: TWU-ATD
Unions Vie for Votes in Merger of Airlines
Unions Vie for Votes in Merger of Airlines By Chris Maher | July 30, 2013 The Transport Workers Union has accused the International Brotherhood of Teamsters of forging hundreds of workers’ signatures, amid a fight to represent mechanics at soon-to-be-merged US Airways Group Inc. and American Airlines parent AMR Corp. The TWU filed the allegations…
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…
Letter from NMB Referencing Case No. R-7365 AA/IBT/TWU
Published 19 Jul, 2013 Participants: On May 28, 2013, the International Brotherhood of Teamsters-Airline Division (IBT) filed an application and authorization cards alleging a representation dispute involving the Mechanics and Related Employees of American Airlines (Carrier). The employees in question are currently represented by the Transport Workers Union (TWU). Also on May 28, 2013, the…
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…
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…
AMR Bankruptcy Update – 1114 Process
As American Airlines moves towards an exit from bankruptcy, there is still the issue of the Retiree Medical for current retirees. AA has proposed making modifications to the Retiree Medical Plan by shifting 100% of the cost of maintaining the plan to the current retirees. On January 23, 2013, Judge Lane heard arguments in connection…