Those aircraft orders were already in place before AA went into BK. Those aircraft orders stayed in place and the financing was not altered. That was suspicious because the financing rates and agreements were immune to all the BK changes. We had our contracts changed, pensions frozen and so on. The largest commercial aircraft order in aviation history was untouched. Another example on the working man getting screwed and the powerless unions fighting big business and the BK courts losing out. Did we really need to lose the prefunding? How many more union members would have taken an early out if prefunding was left untouched like the aircraft orders? I would have strongly considered taking an early out knowing my medical was covered until the age of 65.EOlesen
Did you do the math on how much they would save keeping the Jr guys shedding the top pay and the 5 weeks vacation, 401k obligations, medical the older mechanics use, Every company projects out costs, long term with all the savings it's better to shed high paying jobs & benefits. The union is the loser, lower dues per mechanic with the 8-9 yr topout progression.
$60k vers $115k
1 week vacation vers 5-6 weeks vacation
medical cost young vers OLD
401k
2012 AA filed for BK then went out and bought a new fleet of aircraft. (for the future)