Us Airways Granted Court Approval Of

[USA320Pilot]

Just one more point…ALPA believes the last company offer to each union (who received a proposal) will be what is served under S.1113(e), which is temporary, and if the union if so ordered, members must work under the new terms until the S.1113/S.1114 process is complete.

ALPA’s attorneys have said that each day the union waits to cut a deal the worse the proposals will be. Guess what? They were right.

Furthermore, the advisor’s said this will continue and to expect the court to rule in favor of the Debtor, which in this case has a Judge assigned who is very aware of US Airways’ issues, and ALPA’s legal counsel believes he will rule in favor of the Company.

Respectfully,

USA320Pilot

 

[700UW]

And the same advisors told you to take concessions to save your pension.

Once again you do not know what will happen and you are just doing your normal speculation to scare everyone.

Get the three stripes ready.

 

[USA320Pilot]

As part of the Company’s timetable to emerge from Chapter 11 reorganization, US Airways intends to file its disclosure statement and plan of reorganization by the end of this year.

Complete Story

Respectfully,

USA320Pilot

 

[700UW]

Filing it by the end of the year does not mean emerging.

 

[PITbull]

Correct me if I am wrong...but is not Judge Mitchell who told the company during the last BK to get the concessions from the employees instead of him opening up the contracts????

[post="179372"][/post]​

No. Where did you get that thought.

WE had ratified concession outside of BK and then IN bankruptcy.

 

[WorldTraveler]

The first day briefing is an interesting read. The similarities between DL and US’ trranformation plans are very striking with the exception that DL is not asking its employees to shoulder as large of a portion of the cost reductions (at least what has been revealed in both plans). Also, DL is essentially going to their employees for the 1st time since 9/11 (I know they have had some benefit reductions and non-contract work rule changes) while US is going for the third time.

It is also noteworthy where DL’s total costs compare to the rest of the majors, even though labor costs are clearly at the top of the industry. When DL negotiates a new pilot agreement and the corresponding reductions are made to non-contract wages, DL will have unquestionably the lowest costs in the legacy industry.

It will be very interesting to watch the two companies move through the reorganization process given the similarities of their plans but the differences in the executions of their plans.

 

[WorldTraveler]

It doesn’t really matter whether an agreement is imposed as part of a temporary abrogation process or if it is part of a formal negotiation in order to get out of bankruptcy. If employees don’t like it and aren’t willing to support the company, US cannot survive; employee cooperation is essential in a service business where very little things can throw the operation into a tailspin.

 

[MrAeroMan]

Filing it by the end of the year does not mean emerging.

[post="179387"][/post]​

Show me where he said it did. While it doesn't mean emerging it is one step closer to emerging and will give creditors time to review the POR.

 

[PITbull]

It behooves both parties to be reasonable in these concession discussions.

The real important sentiment that I would like to share with the posters on this board is that ALL employees want the co. to survive, however, it can not be at the expense of one's persoanl survival.

That is just the way it is.

Until everyone comes to this realization, then and only then, can agreements be neogtotiated and agreed to. There has to be an agreement for all of labor that labor CAN LIVE WITH for the next 5 years, knowing there are no increases to these severe reductions.

 

[MrAeroMan]

Opens a pandora's box for the industry if Mitchell abrogates labor contracts. Brings back the "good ol'" days of Lorenzo, et al. Don't like your labor contract . . . heck, declare BK and get a Republican judge to put the wood to your workers.

[post="179240"][/post]​

Yes....those mean ol' Republican's are at it again. Don't forget it wasn't very long ago that the Democratic Presidential nominee, the Senator from Massachusetts, Mr. Waffle himself, John F. Kerry said it would be best for everyone if US Airways just went away. Boy that sure is Liberal compassion if I ever heard it.

 

[USA320Pilot]

Who said the company would emerge before the end of the year?

Regardless, this is a pre-packaged bankrutcy and the company is already rejecting leases on day one.

The company has an excellent website set up that took an enormous amount of effort to complete at www.transformingusairways.com with a very interesting supplmental brief in support of day one motions.

See Story

As I said a few months ago, I understand this whole judicial restructuring could take about 120 days.

Regards,

USA320Pilot

 

[700UW]

Like I have said, please show me where US Airways, RSA, ATSB, GE, Bombardier, Airbus or Embraer have announced US Airways Chapter 11 filing is prepackaged.

You are posting things that are not true, 120 days? I doubt, did you not learn after the first bankruptcy that they emerged too fast?

I have all ready read all the company's propaganda they have filed with the court as I have access to the PACER system.

Once again I have to show you that you are not posting correct information here are some examples:

WHAT ARE "PREPACKAGED BANKRUPTCY PLANS"?

Sometimes companies prepare a reorganization plan that is negotiated and voted on by creditors and stockholders before the company actually files for bankruptcy. This shortens and simplifies the process, saving the company money, and frequently generating more for the creditors as there is less spent in legal and related fees, there is less disruption to the company’s business and less damage to its goodwill. For example, Resorts International and TWA used this method.

If the prepackaged plan involves an offer to sell a security, it may have to be registered with the SEC. Under the Bankruptcy Code, two-thirds of the stockholders who vote must accept the plan before it can be implemented, and dissenters have to go along with the majority.

http://bankruptcy-law.freeadvice.com/prepackaged_plans.htm

The same information is on the SEC's web page:

http://www.sec.gov/investor/pubs/bankrupt.htm

So now please show me how US Airways filed a pre-packaged bankruptcy!

I suggest when you get your law degree and specialize in bankruptcy then you can explain how this is a pre-packaged bankruptcy when it is not, so I suggest you should stick to flying planes instead of interpreting the law.

 

[MrAeroMan]

Isn't it time for you to dump a lav somewhere??

 

[WorldTraveler]

Pre-packaged also means the POR is complete; it can't be since there is no agreement w/ labor.

US has a very short window in which to pull off a reorg. It's also worth noting the delivery of the EMBs and CRJs. US will clearly try to remove Boeing a/c as fast as the new a/c are delivered. Is anyone aware of the new delivery schedules for the EMBs and CRJs since there have been confidential amendments to the contracts? Neither Embraer or Bombardier are in a position to push revenue further out....has US accelerated delivery of a/c pending a bankruptcy filing?

 

[700UW]

Is that the best you can do?

Prove what I posted wrong and then maybe you will show some intelligence.

Here is more:



ST. LOUIS, MO--June 30, 1995--Trans World
Airlines Inc. (AMEX:TWA) announced today that it filed a prepackaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code with the bankruptcy court in St. Louis.

http://bankrupt.com/TCR_Public/950630.MBX