LA Times
IN BRIEF / AIRLINES
American Warns of Bankruptcy Filing
American Airlines said it would file for bankruptcy protection Tuesday if a group of pilots is able to delay a union''s vote on part of a $1.8-billion labor-savings plan.
The pilots want voting on the $660-million agreement suspended,pilots spokesman Sam Mayer said. The vote shouldn''t happen until negotiations with American, the world''s biggest carrier, are completed and the full plan is reviewed, he said.
The deadline for voting, which began April 1, is Monday.
If we don''t have ratification by all unions Tuesday morning, we will file bankruptcy, said Bruce Hicks, an American spokesman.
The airline is owned by AMR Corp. Shares fell 50 cents to $3.30 on the New York Stock Exchange.
The petition for a court-ordered delay will be filed Monday in federal court in Fort Worth, an attorney for the pilots group said.
God forbid, anyone should have the right to know the actual specifics of what they are voting on. It ridiculous, the TA''s keep changing the duration the carrot on a stick raises, ETC. The pilots will likely inform the judge of the need to know the final language, they can see by AA''s behavior with the f/a''s in changing intent and agreed specifics. Signing before the actual thing could result in AA changing things that were never intended or allowed to be changed.
IN BRIEF / AIRLINES
American Warns of Bankruptcy Filing
American Airlines said it would file for bankruptcy protection Tuesday if a group of pilots is able to delay a union''s vote on part of a $1.8-billion labor-savings plan.
The pilots want voting on the $660-million agreement suspended,pilots spokesman Sam Mayer said. The vote shouldn''t happen until negotiations with American, the world''s biggest carrier, are completed and the full plan is reviewed, he said.
The deadline for voting, which began April 1, is Monday.
If we don''t have ratification by all unions Tuesday morning, we will file bankruptcy, said Bruce Hicks, an American spokesman.
The airline is owned by AMR Corp. Shares fell 50 cents to $3.30 on the New York Stock Exchange.
The petition for a court-ordered delay will be filed Monday in federal court in Fort Worth, an attorney for the pilots group said.
God forbid, anyone should have the right to know the actual specifics of what they are voting on. It ridiculous, the TA''s keep changing the duration the carrot on a stick raises, ETC. The pilots will likely inform the judge of the need to know the final language, they can see by AA''s behavior with the f/a''s in changing intent and agreed specifics. Signing before the actual thing could result in AA changing things that were never intended or allowed to be changed.
