American Scrambles to Avoid Bankruptcy

Hatu

Veteran
Aug 20, 2002
645
132
MIA
http://biz.yahoo.com/rb/030422/airlines_am...

Sources familiar with the matter said on Tuesday AMR''s board is giving management one more chance to try to patch things up with unions, two of which have threatened to revote on big concession packages ratified last week.

The board will then consider what to do about a bankruptcy filing on Thursday, sources said.

I wouldn''t be surprised to see them go in (to Chapter 11) this week, said one source familiar with AMR''s finances.

- If AMR enters bankruptcy this week, are the unions entering bankruptcy negotiations with the new ta''s as a starting point or with the previous contract as a starting point?
As the unions go through a revote, do the ta''s get imposed, atleast initially, if AMR declares bankruptcy this week?
 
APFA has a lawsuit, actually Sherry Cooper has a lawsuit pending in NY Federal court. April 30 the judge will hear about the voting irregularities and the lack of security among other things. He has the ability to rule the extension illegal. That would put APFA back to the NO vote, we had originally.