Transport Workers Union Retains Gordian Group

Washington — The Transport Workers Union (TWU) announced today that the union has retained Gordian Group, LLC to provide investment-banking services during the bankruptcy reorganization proceedings at AMR Corporation, parent company of American Eagle and American Airlines.

“We’ve said from day one that we’re going to fight like hell for our members,” said TWU International Union President James C. Little.  “That means having the best available talent in our corner, so we can level the playing field and advocate effectively for our members.” TWU represents more than 26,000 workers at American and American Eagle as well as thousands of retirees.

The union’s International Administrative Committee, said Little, considered a number of companies prior to selecting the Gordian Group, one of the nation’s leading financial restructuring firms.  Gordian has provided expert advice on a variety of high-profile corporate restructurings, including Alamo/National Rent-a-Car, Ambac, General Motors, LTV Steel, and many others.

Gordian was named Outstanding Investment Banking Firm of 2011 by Turnarounds & Workouts magazine. Peter Kaufman, Gordian’s President and Head of Restructuring and Distressed Mergers and Acquisitions, has been ranked #1 among individual financial restructuring investment bankers by The Deal.   He is the co-author, along with Gordian CEO -Henry Owsley, of the definitive book in the field, Distressed Investment Banking: To the Abyss and Back.

Gordian distinguishes itself from other investment banks, among other ways, by providing conflict-free advice. Gordian has no institutional loyalties to funds or bondholders, including AMR’s bondholders.

“We are glad to be on part of the TWU team,” said Kaufman. “Our sole focus will be working with TWU leadership to achieve the best possible outcome for rank-and-file workers under these difficult circumstances.  Our mission is a critical one, TWU’s fight at AMR is a microcosm of the battle workers are engaging in with corporations all across this nation.”

More information on the Gordian Group can be found on the firm’s website at: www.gordiangroup.com.

Transport Workers Union of America (TWU) represents 200,000 workers and retirees, primarily in commercial aviation, public transportation and passenger railroads, including 26,000 workers at AMR. TWU represents more workers at AMR than any other labor organization. The union is an affiliate of the AFL-CIO.