All, I was on a conference call today with all TWU local AA presidents to discuss equity with International TWU Rep. Gary Peterson. It was reported to the presidents that American Airlines will help facilitate the administration of the distribution. Simply put American Airlines has our bank information, tax status, social numbers and any other…
Following the court’s ruling in the American Airlines equity case, TWU has received several questions regarding the equity distribution process. Below, we are reprinting the text of a Q&A that was sent to all AA Local Presidents on November 2, 2017. Question: Why has so much time passed since the initial distribution of equity in…
The general rule for eligibility to participate in the distribution is: an employee was in the TWU represented craft/class and active employee on payroll, approved leaves of absence on both the date of American’s filing its petition for bankruptcy (November 29, 2011) and the closing date for eligibility (July 26, 2013). Does not exclude RIF…
All, I was on a conference call today to discuss the equity payout. Please read the attached letter from ATD Director Mike Mayes. There is no timeline for the payout until the tax issue and who will distribute the funds is resolved. Dale January 6, 2018 Brothers and Sisters: As we enter a new calendar…
November 2, 2017 Brothers and Sisters: Below, please find several questions and answers we’ve received regarding the American Airlines Equity Distribution. Question: Why has so much time passed since the initial distribution of equity in American Airlines until now without all of the equity being distributed to TWU represented AA employees in accordance with the…
Dear Brothers and Sisters: I write you with a quick update on the Equity Distribution Plan. Several members raised questions in response to my letter that was sent last week. As a result, I have asked our lawyers to prepare a “question and answer” sheet . This will be sent out in the near future.…
Brothers and Sisters: The newly elected leadership of TWU is pleased to announce that the four-year-long litigation regarding the legal validity of the Equity Distribution Plan adopted by TWU in 2013 has at last come to an end, because plaintiffs have not filed timely papers in the Supreme Court that would have been required to ask it…
Brothers and Sisters: Last month, we informed you that the distribution process for American Airlines equity shares would begin soon. Recently, American made a distribution to unsecured creditors from its Disputed Claims Reserve (DCR), which holds shares set aside for resolution of certain claims in the bankruptcy proceedings. The number of shares recently distributed for…
Dear American Airlines Members: In May, we provided you an update on the American Airlines equity distribution case indicating that the United States Court of Appeals for the Ninth Circuit had issued a decision and opinion affirming the decision of the District Court for the Northern District of California in the case of Demetrius v.…
Dear American Airlines Members: Last month, in an update in the American Airlines equity distribution case, we informed you that the United States Court of Appeals for the Ninth Circuit had issued a decision and opinion affirming the decision of the District Court for the Northern District of California in the case of Demetrius v.…