AA Bankruptcy

[Hopeful]

Can anyone find the alleged article concerning AA bankruptcy by October?

 

[FWAAA]

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On 8/3/2003 8:16:41 AM Hopeful wrote:

Can anyone find the alleged article concerning AA bankruptcy by October?

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There is no article mentioning a Ch 11 filing by September 30.

AA will end Q3 with enough cash (and still $1.7 billion of unencumbered aircraft) to get thru the winter. Combined with $1.8 billion of labor savings, AA's financial position will continue to improve, barring another war, terrorist attack, oil price spike, SARS outbreak, etc.

The 10-Qs will mention the possibility of BK for the next couple of years in their boilerplate warnings to investors; much like the one referenced by wing above. The media will repeat it in hundreds of stories, the stock will dip, but the company will continue to prosper outside of bankruptcy.

Not so sure the same can be said of UAL. No plan, no equity investors, and impossible to meet cash flow targets this fall.

 

[WingNaPrayer]

The last official talk of bankruptcy from the executive was last May, and I don't believe there has been mention of it since:

American Air says may still file bankruptcy
Reuters, 05.15.03, 2:08 PM ET
CHICAGO, May 15 (Reuters) - AMR Corp.'s <AMR.N American Airlines said on Thursday it may still need to file for Chapter 11 bankruptcy despite various cost-cutting deals from labor, management and vendors because its financial condition will remain weak and its prospects, uncertain.

The Fort Worth, Texas-based company in a filing with the Securities and Exchange Commission cited a number of factors that have or may still affect its results. Those include continued weakness in the U.S. economy, the war in Iraq, fear of another terrorist attack, the SARS outbreak and inability to satisfy conditions on various bank loans or access capital markets.

Old News but Full Story: [url="http://www.forbes.com/newswire/2003/05/15/rtr972438.html"]http://www.forbes.com/newswire/2003/05/15/rtr972438.html[/URL]

 

[Hopeful]

Probably rumor mill up and running again!

 

[AAmech]

Definitly Rumor Mill!! I saw our CASM was down to 9.5cents in June and still falling. Not bad considering the Gold Standard is SW's 7.5cents.

 

[Hopeful]

Why should AA go bankrupt when they have unions like the TWU willing to give them anything they want!

 

[MCI transplant]

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On 8/4/2003 11:58:25 PM Hopeful wrote:

Why should AA go bankrupt when they have unions like the TWU willing to give them anything they want!

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You know Hopeful! We don't agree on a lot, but this one we do!!!

 

[Hopeful]

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On 8/5/2003 12:34:41 AM MCI transplant wrote:

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On 8/4/2003 11:58:25 PM Hopeful wrote:

Why should AA go bankrupt when they have unions like the TWU willing to give them anything they want!

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You know Hopeful! We don't agree on a lot, but this one we do!!!

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Yep! But some people are hell bent on believing AA will file for bankruptcy anyway. Een if Arpey does come around after the 3rd quarter earnigns and says, "WE NEED MORE FROM EMPLOYEES," the TWU will be the first ones in line!

 

[AAmech]

Wah Wah Wah!!!! Somebody give these guys their Bottle!

 

[MCI transplant]

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On 8/5/2003 1128 AM bingobilly wrote:

Hopeful with your anti union retoric pro dis-union amfa, I bet amfa would be the first to volunteer outsourching jobs. Then the 42 mech left can now make $55/hr. that's your amfa give up jobs for the select few.
Gee i bet they would all be amfa union officers

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What difffence do'es it make? The TWU gave a.a. the whole cndy store, and a.a. is laying off anyway! I'de rather be one of the 42, and make $55@Hr., than one of the 42 at $10@hr. with the TWU!!!

 

[bingobilly]

Hopeful with your anti union retoric pro dis-union amfa, I bet amfa would be the first to volunteer outsourching jobs. Then the 42 mech left can now make $55/hr. that's your amfa give up jobs for the select few.
Gee i bet they would all be amfa union officers

 

[RV4]

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On 8/5/2003 1128 AM bingobilly wrote:

Hopeful with your anti union retoric pro dis-union amfa, I bet amfa would be the first to volunteer outsourching jobs. Then the 42 mech left can now make $55/hr. that's your amfa give up jobs for the select few.
Gee i bet they would all be amfa union officers

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The truth that the Bus Worshipers cannot get through their skulls is that the IAM contract at NWA, when AMFA came on the property had ZERO limits on outsourcing.
AMFA negotiated a 38% cap, which is a 62% improvement over what was currently accepted, and the fools keep claiming AMFA outsources job and lays off workers.
IT IS THE DOMAIN OF THE CARRIER TO OUTSOURCE AND LAY-OFF...
NOT THE UNION!

 

[Checking it Out]

IT IS THE DOMAIN OF THE CARRIER TO OUTSOURCE AND LAY-OFF...
NOT THE UNION!

Boy this is a bright comment! No wonder amfa has the higest Percentage of Layoffs in the Industry! Lets continue to rool over and let it happen? this is one of your famous chants! Oh yes! lets not forget the highest percentage of farmouts also.

Eliminate the position, collect 55 and to he-- with everyone else! Anyone heard of unity? Help us all if these Individuals ever represent us!

TWU SOLIDARITY!

 

[Hopeful]

As of AMFA replacing the IAM at UAL, ther are about 6000 United mecahncis on the street. Under the IAM, United laid off about HALF of the mechanice.
Are you going to blame AMFA for that?

 

[KCFlyer]

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On 8/5/2003 636 PM Hopeful wrote:

As of AMFA replacing the IAM at UAL, ther are about 6000 United mecahncis on the street. Under the IAM, United laid off about HALF of the mechanice.
Are you going to blame AMFA for that?

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NO...but what will be really interesting will be what happens at UAL if the company says more cuts are needed and the AMFA's response to *gasp* dwindling union dues that would occur with any future layoffs....as I understand it, AMFA prefers layoffs to protect the class and craft. Right now they have you believing that they aren't concerned about the union dues...but unions, AMFA included, are businesses. Stay tuned.