American Contributes $74 Million To Pensions

[FWAAA]

NW defaults on its $65 million contribution and DL announces yesterday that it will not make any more pension contributions this year. So what does big bad AA do? Yep, that awful AMR contributes another $74 million to its DB pension plans today:

Press Release Source: American Airlines, Inc.

American Announces a $74 Million Contribution to Its Defined Benefit Pension Plans, Raising Total Contributions This Year to $287 Million

Thursday September 15, 7:41 pm ET

FORT WORTH, Texas, Sept. 15 /PRNewswire-FirstCall/ -- American Airlines announced today that it has made a $74 million contribution to its defined benefit pension plans. This is in addition to the more than $200 million American has contributed to its defined benefit plans earlier this year, bringing total contributions to the plans in 2005 to $287 million.

"Together, the people of American Airlines and our unions have worked hard to restructure the company so that we can compete effectively and meet our commitments to employees," said James Beer, American Airlines Senior Vice President-Finance and Chief Financial Officer. "Over the last four years, we have contributed in excess of $1 billion to our pension plans, even as the industry has faced very challenging times. These contributions underscore the markedly different path that American, its employees and its unions have chosen."

With its defined benefit pension plans currently funded at 80 percent, American has the best-funded defined benefit plans in the industry.

http://biz.yahoo.com/prnews/050915/dath049.html?.v=16

AA pays its bills, fulfilling its obligations. I'm certain that among some people, this is bad news and proof that AA is evil.

 

[Wretched Wrench]

QUOTE: "If Delta and Northwest use the bankruptcy process to dump their pension obligations and cut employees' pay, it could force American and Continental to do the same, analysts say."

from: http://www.forbes.com/feeds/ap/2005/09/15/ap2227974.html

Heck, who ya gonna believe: AA's press release or them analysts quoted by Forbes?

 

[FWAAA]

QUOTE: "If Delta and Northwest use the bankruptcy process to dump their pension obligations and cut employees' pay, it could force American and Continental to do the same, analysts say."

from: http://www.forbes.com/feeds/ap/2005/09/15/ap2227974.html

Heck, who ya gonna believe: AA's press release or them analysts quoted by Forbes?

[post="301307"][/post]​

Funny thing you should post that - another gem by the idiot airline analyst, Ray Neidl.

Who am I gonna believe? Not Ray Neidl, that's for d@&% sure.

 

[B.O.B.]

This just goes to show who the TOP DOG in this business is!

 

[PRINCESS KIDAGAKASH]

AA's pension's are still underfunded by almost $3,000,000,000. :down:

 

[Bob Owens]

NW defaults on its $65 million contribution and DL announces yesterday that it will not make any more pension contributions this year. So what does big bad AA do? Yep, that awful AMR contributes another $74 million to its DB pension plans today:
http://biz.yahoo.com/prnews/050915/dath049.html?.v=16

AA pays its bills, fulfilling its obligations. I'm certain that among some people, this is bad news and proof that AA is evil.

[post="301298"][/post]​

AA may "pay its bills" but their employees cant. In reality the employees are paying those bills, not AA. $1.8 plus billion in concessions for $74 million towards the pension, big deal.

 

[Bob Owens]

QUOTE: "If Delta and Northwest use the bankruptcy process to dump their pension obligations and cut employees' pay, it could force American and Continental to do the same, analysts say."

from: http://www.forbes.com/feeds/ap/2005/09/15/ap2227974.html

Heck, who ya gonna believe: AA's press release or them analysts quoted by Forbes?

[post="301307"][/post]​

Not sure. Its like Little Mary having to pick which pack of wolves she should leave her lamb with.