American Reaches Deal with Fleet Workers

[DLFlyer31]

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On 3/28/2003 718 AM eolesen wrote:

US Airways might still pull out of it, assuming the rank and file pilots agree with gutting their pension plan.

Given a choice of investing your money, would you choose the company who was able to come to an agreement with their unions, or the one who is still trying to keep full pay to the last day?

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Actually, the rank and file US pilots do not get a vote on the pension issue. It''s pretty much a done deal....only thing left is to have it signed off by the PBGC (and the odds on that seem pretty good).
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[Buck]

So total mismanagement of the airline has caused AA to be where it is today. Why blame terrorist acts on issues that were already beginning to appear?

 

[FA Mikey]

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On 3/28/2003 10:55:51 AM eolesen wrote:


[*]leases on aircraft currently parked in the desert

[*] aircraft for which we''re operating but would probably gladly part with (e.g. the A300 fleet)


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God forbid, what would AA precious foreign nationals fly then. Well, back to train them on the 737, split a 777 crew and take more scheduled lines from us. Which would mean more layoffs for us based employees.

 

[Oliver Stone''s Apprentice]

If you think bankruptcy is just a way to bust the unions, you're ignoring the rest of the balance sheet, as well as history...

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On 3/28/2003 9:25:13 AM AAquila wrote:

AMR will get their ducks in order (for all their wrangling the Pilots have the most to lose, they'll sign on today) ( FA's just didn't want to be first to sign, but they will by tomorrow ) and avoid BK.

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Personally, the best thing the unions can do is get a consensual agreement today so that if there is a filing, at least there's an agreement on the table which won't require the Court's approval.

Also, again personally, I think the thought that we're going to be avoiding bankruptcy court at the last moment is nothing but a fantasy.

There are so many other costs aside from labor that still need to be addressed, including

• payments for lines of credit and debt service worth over $12B
  
• leases on aircraft currently parked in the desert
  
• aircraft for which we're operating but would probably gladly part with (e.g. the A300 fleet)
  
• long term contracts with vendors who have no intention of reducing their charges to AA unless forced to
  
• leases in airports where we no longer operate nearly as much as we used to but the airport won't reduce our rent
  
• contracts for aircraft ordered but not yet built/delivered

So, quit wasting time bitching about how Carty is just using the threat of bankruptcyt to rape the unions and get bigger bonuses. Some of the creditors alluded to above will take bigger haircuts individually than the sum total of what AMR had asked the unions for.