This week the M&R Negotiation Team met with the Company in Dallas/Forth-Worth. As the Company has been in the news recently, with speculation of bankruptcy and the only major airline to forecast future losses while in negotiations with all labor groups, we feel the Company isn’t giving us the credit we deserve. The three unions on property gave up $1.6 billion in concessions in 2003 for which the company has received every year since, as shown in the SEC filing. (See table below). We have continually requested a complete breakdown of the SEC numbers by each labor group, TWU, Flight Attendants, Pilots, non union, and management. The company has NOT provided us with any information. There is also a line in the SEC filing every year listed as other expenses ranging from $2.7 to $3 billion per year and the Company will not provide the requested information about these expenses either.
With all that said, and AMR has stop trading several times today 10/3/2011 due to stock price dropping more than 30%, management has absolutely MIS-MANAGED this company.
