Yeah. AA has about as much money in the bank as U.S. Air is worth and they are buying us..... Makes perfect sense doesn't it? I guess Air Cal bought us too.
A little ironic!
- Thread starter MCI transplant
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OP
- Jun 4, 2003
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- #17
Yea! Crazy world OldGuy!------ Who'd thunk that an Airline could go into bk with 3 billon $$$ in the bank!!! But it did, and in doing so may have opened pandora's box!
ContUNITEus
Veteran
- May 4, 2011
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xUT said:USAir saved AA in BK.
Get used to hearing this...
YEP all over again.... As a matter of fact, it's going to be: "We, America West, bought US Air and American Airlines!!"
wings396
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- Aug 20, 2002
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IMO, this is a foolish area for anyone to venture into. In the end it doesn't matter who bought who, or how it was done. What should matter is that we will eventuality all be in it together, and need to focus on many other things instead of petty crap such as this.
OP
- Jun 4, 2003
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Sorry wings, but this an AA/TWA thing! --------- Let's just say those at AA never missed an opportunity to remind us (exTWA) that they bought us out of BK. ------- Now the tables just "might" be turned! -----Now that would be ironic!!!!
I know you are still bitter about it and I would be too if I were you. But the biggest difference is that when TWA was in BK they actually were broke and going under. AA filed with $4.1 Billion in the bank. It was a strategic move to further screw the employees. (You and me) and it didn't turn out the way they expected. Now they have over $6 Billion in the bank, so it seems they we weren't going under. The only people happy about airline mergers are the executives. They get all kinds of bonuses out of it and even the ones who get run off get paid to leave. The rank and file don't like them because it means a loss of jobs and more people piled on top of the seniority list. At this point all we can hope for is to be able to keep our jobs until we can afford to retire. The way things are going that will be long after we have reached the age of 65 if at all.
OP
- Jun 4, 2003
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OldGuy, Let's set the record stright about this once and for all. Was TWA broke when it was in BK? ------Yes it was! Was it in trouble before AA came along? ------- Again, yes it was! But was it "broke"? Not quit! ------Than what was the main reason for AA to requirer TWA to go into BK for their deal to go through?-------- It was to get arround (get reed of) Carl Icahn's poison pill agreement it had with TWA that stated that any Airline that merged/bought out TWA would be subject to the same conditions of sale of seats on flights, under market value, to his Company known as Karabu. http://www.democrati...ess=389x2982035 No Airline could survive, yet alone thrive, under this agreement!
robbedagain
Veteran
was ichan the reason why twa went ch11 or was it a long time coming i do remember when aa brought twa and i long felt if they were to get around ichan they would have to get twa while it was in ch11
rwilson
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- Feb 16, 2013
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Really, I was just thinking how much that harrassment would bother me if I still had a job.
You would probably know more about that than I would since you were a TWA employee. It is well known that Carl Icahn buys, destroys and liquidates companies and it looked to those of us on the outside that he was well on his way with TWA. All the reports were that TWA had no cash and was selling seats for much less than it cost to produce them. We believed all the reports, but obviously the full truth is not always reported by the media.
OP
- Jun 4, 2003
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At this point in time OldGuy, it really dosen't matter.------- I just wanted to set the record stright as to how TWA got to where it did! No Airline could have survived under the same circumstances!!! When Icahn sold our LHR routes to AA, all that money that AA gave him for those routes went right into his pocket! Not a dime of it went back into the Airline!
And the creditor's own the majority of the "new American". I'm sure they'll have everyone's best interests when making decisions on where to put all the profit
To tell you the truth I thought it would work out well for all the TWA guys and there was now a future for you all at the time. Shows you what I know.
OP
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BigMac
Veteran
If not no biggie. The cost of living is so cheap here in Tule .. we could work for McDonald's and still make ends meet. Thank you for your "concern".
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