ALPA Oct 29 & Oct 30 code-a-phone

C

chipmunn

Guest
Reports indicate US Airways will release its third quarter earnings (loss) report today and the next bankruptcy court omnibus hearing is scheduled for November 7.

Major hearing agenda items are:

1. The court will consider adequate protections for the parties with an interest in aircraft EETCs covered under Section 1110 of the bankruptcy code.

2. Provide finanal approval of the RSA debtor-in-possession (DIP) financing plan and release of the remaining $200 million in DIP funds to US Airways.

3. The judge will address any requests for relief that have been filed since the previous hearing held on September 26.

4. Reports indicate last week parties interested in outbidding RSA as the Equity Plan Sponsor reviewed confidential corporate material at CCY. It's unclear if any party has expressed an interest to provide a bid that is equal or greater than RSA's offer; however, any bidder has until November 14 to submit a proposal to the bankruptcy court.

5. It is expected there will be major news on or about November 6 or 7 regarding US Airways formal reogranization.

Chip
 

cat 111

Advanced
Aug 25, 2002
230
0
OK Chip, What's with the MERGER.Dave has shrunk the airline enough to let the MERGER GO THROUGH.
 
OP
C

chipmunn

Guest
MEC CODE-A-PHONE UPDATE - October 29, 2002
This is Roy Freundlich with a US Airways MEC update for Tuesday, October 29, with four new items:
US Airways President and CEO David Siegel has asked to meet with the MEC and MEC officers tomorrow, Wednesday afternoon, in Crystal City. The agenda is to provide the MEC with an update on the Company’s current status.
The MDA Negotiating Committee is meeting with MDA management this week in Pittsburgh. This will be the last week of MDA negotiations, with the mediation phase beginning next week with arbitrator Robert Harris.
MEC CODE-A-PHONE UPDATE - October 30, 2002
The MEC, MEC officers, members of the Negotiating, Merger, and Communications committees and ALPA legal and financial and economic staff met with US Airways senior and other management officials today in Crystal City. The MEC received a closed session presentation on US Airways financial status, revenue performance and projections, passenger bookings, and the status of the ATSB loan guarantee. Details of the meeting are not available since the Company required the closed session.
The MidAtlantic Negotiating Committee, and members of the MEC Negotiating and Merger committees met with representatives from US Airways wholly own carriers Allegheny, Piedmont, and PSA today to discuss and coordinate flow through issues in preparation for upcoming negotiations this week. MidAtlantic contract negotiations are scheduled to continue through next week. An updated progress sheet is being posted on the pilots only section of the ALPA MidAtlantic pilot website.
 
OP
C

chipmunn

Guest
Itrade, that's good, really good journalism.

Chip
 
OP
C

chipmunn

Guest
Reports indicate the ALPA MEC will hold a Special MEC meeting next week to discuss unfolding events.

Chip
 

Latest posts