Bankruptcy Looms Over American Airlines

[Wild Onion]

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On 2/4/2003 10:17:36 AM WingNaPrayer wrote:


And onion...you're definitely missing something. You need to go back and look at the terms of those agreements from the TWA bankruptcy, especially what american agreed to take over and keep paying for...you might be surprised.
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[/blockquote]


Too bad we can put you in touch with all of the TWA retirees I talk to had nothing left after Icahn. They're happy just to have travel and medical benefits.

 

[WingNaPrayer]

You have to feel bad for people who put 30 and 40 years into a company, only to watch it's CEO walk off with a billion dollars cash in his pocket while flipping off the workforce he leaves behind.

 

[MrMarky]

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On 2/4/2003 10:43:49 AM WingNaPrayer wrote:
including AA's agreement to bail out that fund after Icahn cancelled, then raided the fund of 714 Million dollars in 2001.
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[/blockquote]


Please explain this. It is my understanding that Icahn exercised his option to bail on the pension fund and that the obligations were then assumed by the PBGC, not AA. I have seen no documentation of any assumption of TWA pension funds by AA. And I dare say I probably know a good deal more about the TWA BK and acquisition by AA than you do.

And you don't have to cut and paste....just provide a link...I know how to scroll.

Anyone who suggests that AA management is deliberately making things look worse than they really are in order to squeeze more out of labor, is wearing underwear that's a couple of sizes too small.

 

[kirkpatrick]

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On 2/4/2003 10:16:52 AM Wild Onion wrote:

It is my understanding that AA pension benefits are based only on years of credited AA service, and as such, no TWA retires draw on AA pension.

Even for TWAers who came across to AA and have since retires only get credit for AA service.

...or am I missing something?
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That's my understanding as well. I know that I, as a flight attendant, am getting credit only for the time put in at AA, which is less that two years. I am fully vested immediately, but that's the only difference I can see.

MK