Here is a the same question answered by the company and TWU.
When does the 4.3% raise take place?
TWU
The raise will take effect when the plan of reorganization which provides for the merger becomes effective—i.e. upon exiting bankruptcy. The timing of the raise has nothing to do with the operational integration of the two carriers: it will take place before any single carrier petition can be filed, let alone approved.
AA
The 4.3 percent raise will take effect on the date that the AA/US Airways merger and Plan of Reorganization (POR) becomes effective. The TWU will receive a 4.8 percent equity that will be divided amongst the workgroups covered by the 7 labor agreements. The value of the equity is not known at this time.