Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
"liquidated"? Where did you come up with that information? Or is that just your personal opinon?TWA was going to liquidate, this is a little different.
Yes, they did.
Good move on Delta's part.
"liquidated"? Where did you come up with that information? Or is that just your personal opinon?
DL's Pilots are ALPA and their Dispatchers are unionized too.
There were no unions on Delta's side, and after the " pre-packaged bankruptcy " merger. There are no unions still. ( I could be wrong here).
They werent in Chapter 7, they were in Chapter 11 and AA bought them and merged them.
I was going through some of my old papers today, and found a letter written to the employees of TWA by Compton, dated Jan.10th., 2001. It stated, in part, that he was taking TWA into BK ( Chapt.11)"voluntarily" to faciliate the sale of it's assits to American Airlines.They werent in Chapter 7, they were in Chapter 11 and AA bought them and merged them.
Oh really?----- And what other Airlines offered to buy "just parts"?Correct, but NO other airline was offering to buy ALL of it, just parts.
Do you think the rank and file would have been better off if AA had bowed out and let others buy it in pieces? Because that is what would have happened.
They had no money and no exit plan. They were going to be moving from 11 to 7 quickly.
Jim...I've never seen the combined list nor have you. That has been a bone of contention lately also. But I will say because they (AWA) weren't even operating before the 1900's US f/a's may have a leg up.
Oh really?----- And what other Airlines offered to buy "just parts"?
I was going through some of my old papers today, and found a letter written to the employees of TWA by Compton, dated Jan.10th., 2001. It stated, in part, that he was taking TWA into BK ( Chapt.11)"voluntarily" to faciliate the sale of it's assits to American Airlines.------------ One of the main reasons for doing this was to get out from under a contract TWA management had made with Carl Icahn. Icahn had loaned TWA money in return for highly discounted tickets that he was reselling through his Company Karabu in Los Vagas. His Lawyers had written into the contract that it would be carried on if the company was sold, or went into BK. This deal not only bleed TWA's bottom line, ( He was selling them below TWA's cost) It acted as a "posion pill" for any other mergers. ------ The only way arround it was a sale of assits in BK. ----- It came down to AA's Lawyers were smarter than Ichan's. -------- "Because that is what would have happened" Since you have a chystal ball! How about cranking it up and letting all of us know how American will do in this BK!!!