August 15th was a significant date in relation to the bankruptcy for American Airlines as the Bankruptcy Court was scheduled to confirm their Plan of Reorganization. That confirmation would have paved the road towards an exit from bankruptcy in the next several weeks. Due to the anticipation of the confirmation, it was critically important for…
154 search results for "Equity"
Letter from Denise Lynn, on Equity Shares, with FAQ – August 9, 2013
Dear American Airlines Colleague: We are quickly approaching the completion of our successful restructuring and the merger with US Airways, which will position the new American for great success. As we look toward that future, I want to thank you for your dedication and your focus on our customers. In recognition of the…
AA / TWU Equity
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…
AA Equity Distribution Decision
July 18, 2013 TO: All AA Presidents and Board Dear Brothers: First, I was hoping to attend the Presidents’ Council meeting on Tuesday with David Rosen. I was unable as I am being treated for a relapse of acute bronchitis and an upper respiratory infection. The purpose of my visit was first to tell 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…
Teamsters Negotiate Equity Deals But Members Haven’t Received a Penny
This fall, TWU members will receive an equity stock distribution of considerable value from American Airlines. The Teamsters claim they have negotiated better equity deals at Global Aviation and YRCW (Yellow Freight). Let’s take a closer look. The Teamsters say their equity deals call on the companies to pay administrative costs, and that equity payments…
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…
4.8% Equity Facts
Dear Sisters and Brothers, Several members have informed me that IBT organizers are distributing propaganda that claims that the TWU International will withhold equity that is rightfully due to our members. The TWU successfully negotiated the 4.8% equity, and it will be distributed to our members fairly, and with transparency. What seems to upset the…
TWU Equity Distribution Informational Meeting – Hand Out
Introduction: As part of the resolution of the American Airlines bankruptcy, TWU negotiated a 4.8% share of the total claims recovered by general unsecured creditors. The post-bankruptcy Plan of Reorganization provides that unsecured creditors will receive their recovery in the form of new American Airlines Group (AAG) common stock. So TWU will receive 4.8% of…