Doug Parker: US may not be interested in merging with AA if we have to wait until Ch 11 is over

[FWAAA]

Doug Parker's statements on the subject of AA are becoming increasingly schizophrenic.

The CEO of US Airways predicted that American Airline’s creditors will support his plan for a merger, but said he may not still be interested after American comes out of bankruptcy protection.

http://www.washingtonpost.com/business/us-airways-ceo-doug-parker-says-his-airline-wont-wait-forever-for-american-airlines-merger/2012/07/18/gJQA7inxtW_story.html

Just a couple of weeks ago he said that US was willing to let the bankruptcy process progress and now he's crying that the merger needs to occur NOW:

US Airways is here now and ready to do this now. There is no guarantee that will be the case forever. American got itself into this situation in part because they were singularly focused on fixing their internal problems and assumed the outside world would stand still while they did it. That wasn’t the case and very well may not be the case in the future. So we believe the time for action is now,” Parker said.

http://aviationblog.dallasnews.com/2012/07/parker-only-ones-opposed-to-us-airways-american-airlines-merger-seem-to-be-aa-senior-management.html/

 

[tom barry]

Doug Parker's statements on the subject of AA are becoming increasingly schizophrenic.


http://www.washingtonpost.com/business/us-airways-ceo-doug-parker-says-his-airline-wont-wait-forever-for-american-airlines-merger/2012/07/18/gJQA7inxtW_story.html

Just a couple of weeks ago he said that US was willing to let the bankruptcy process progress and now he's crying that the merger needs to occur NOW:


http://aviationblog.dallasnews.com/2012/07/parker-only-ones-opposed-to-us-airways-american-airlines-merger-seem-to-be-aa-senior-management.html/

FWAAA,
Some predictions ol' friend.
But first I'd like to address Mr Parker; "Doug, GO POUND SAND and then GO SHITE in your HAT " !!

Sorry FWAAA for the Interuption.
Now for the predictions.
AA is FULL of it when they say they're "Going it alone" This on par with there Phoney BK filing !
AA will do a hook-up, or a buy out, and the LEGITIMATE names being bantered about are Frontier, Alaska and Jet Blue.
The Jet Blue rumor is the strongest. My best airline friend(of 30 years) was the UA BOS Customer service Manager who was told by his ex boss, the (Still) BOS GM, that while he was out on the UA "Mother Ship" on Lake Michigan, that AA WILL deal, and the front runner is B6.

In addition FWAAA, a look a 'goings on' in JFK reveal that B6 wants OUT of terminal 4 which it uses for it's International arrivals,.........There is NO terminal 6,......... British's lease is up soon (a year or so) in terminal 7, and has made overtures to AA with regard to Terminal 8.
Not a 'stretch' to operate AA/B6 domestic out of T5, and ALL AA/BA/B6 International/Caribbean out of T8.

As we know so well, like All things airline,...........Time will tell.

 

[damajagua]

Go away Parker!!!!

 

[jersey777]

He is not schizophrenic at all. This is a fluid process and he has been waiting to present his business plan which will be far superior to AA's proven disaster of a plan...The Cornerstone. The heat is turning up because now AA is dragging their feet and now has asked the bankruptcy court for a further extension for exclusivity until February 2013.

 

[Hopeful]

He is not schizophrenic at all. This is a fluid process and he has been waiting to present his business plan which will be far superior to AA's proven disaster of a plan...The Cornerstone. The heat is turning up because now AA is dragging their feet and now has asked the bankruptcy court for a further extension for exclusivity until February 2013.

The last request for exclusivity was for December 27, 2012. When did the february request happen?

 

[jersey777]

Joint Motion of Debtors and Official Committee of Unsecured Creditors Pursuant to 11 U.S.C. § 1121(d) to Extend Exclusivity Periods to December 28, 2012 and February 28, 2013 Respectively (Docket No. 3440)

 

[john john]

Joint Motion of Debtors and Official Committee of Unsecured Creditors Pursuant to 11 U.S.C. § 1121(d) to Extend Exclusivity Periods to December 28, 2012 and February 28, 2013 Respectively (Docket No. 3440)

FWA aa
Did you miss this or just left it out by choice

 

[jersey777]

A clarification:

A judge on Thursday gave AMR Corp. (AAMRQ) until late December to control its own bankruptcy case, as the American Airlines parent begins to seriously consider a merger and continues to negotiate deals with its main unions.

Judge Sean H. Lane of U.S. Bankruptcy Court in Manhattan approved the extension, just a few hours after AMR Chief Executive Tom Horton discussed the company's merger possibilities with US Airways Group Inc. (LCC) Chief Executive Doug Parker over oatmeal in Washington , a meeting reported by The Wall Street Journal . A spokesman for AMR didn't immediately have a comment on the meeting.

Judge Lane's approval gives AMR until Dec. 28 to file its own bankruptcy reorganization plan without the threat of rival proposals, and until Feb. 28, 2013 , to solicit votes on that plan. Without the judge's approval of the proposal, which was supported by both AMR's creditors and US Airways , the periods would have run out Sept. 28 and Nov. 29 .

A lawyer for US Airways rose to speak in court on Thursday, but Judge Lane said he didn't need to hear anything from him.

"I know US Airways' interest in the case," Judge Lane said, adding, "I don't want to get sidetracked." US Airways said in court papers that it is an AMR creditor.

Aside from more seriously considering a merger, AMR is in the process of changing labor pacts with the unions representing its mechanics, pilots and flight attendants. Earlier this year, the company wrapped up a trial with the unions over whether AMR can terminate their current agreements, which the company said would help it cut more than $1 billion in labor costs.

Judge Lane is set to rule on whether those contracts can be terminated by next month, but the date has been flexible as AMR has continued to negotiate settlements with those unions.

The possibility of a merger, though, is still the most notable item on AMR's agenda. After saying for months that it wanted to pursue a standalone restructuring plan, AMR has recently publicly warmed to the merger idea.

Its unions all say they support a marriage with US Airways , which the workers said would offer better terms than a standalone AMR.

 

[FWAAA]

He is not schizophrenic at all. This is a fluid process and he has been waiting to present his business plan which will be far superior to AA's proven disaster of a plan...The Cornerstone. The heat is turning up because now AA is dragging their feet and now has asked the bankruptcy court for a further extension for exclusivity until February 2013.

And last week, Doug Parker filed a statement agreeing with AA's extension of time until the end of the year to present a POR. AA then gets two months to convince the creditors to vote for AA's POR.

Then, one week later, when AA is releasing some very impressive revenue figures, he once again bangs the drum that the merger must be now.

That's a classic example of schizophrenic behaviour.

 

[Hopeful]

And last week, Doug Parker filed a statement agreeing with AA's extension of time until the end of the year to present a POR. AA then gets two months to convince the creditors to vote for AA's POR.

Then, one week later, when AA is releasing some very impressive revenue figures, he once again bangs the drum that the merger must be now.

That's a classic example of schizophrenic behaviour.

He sounds more desparate than a carrier already IN bankruptcy would or should be!

 

[Art at ISP]

What Parker is really saying is, "if I can't steal AA and be the boss, I don't want it" -- both of which are less likely after exit from Ch 11.

While I think AA will need to merge with someone, I am not sure US will be the best choice, unless such a transaction does NOT include Parker and Kirby as part of the new entity, Just ask any of US' employees and former high yield customers what they think of those two....

 

[jersey777]

And Horton has stated he wanted to emerge from bankruptcy and then look at merger partners. Then the next week he changed his tune and said AA would look at partners now. I guess that both makes them schizophrenic in your world.

 

[FWAAA]

And Horton has stated he wanted to emerge from bankruptcy and then look at merger partners. Then the next week he changed his tune and said AA would look at partners now. I guess that both makes them schizophrenic in your world.

This thread isn't about Horton, but since you brought him up, here's this morning's "news" about a breakfast meeting Horton had with Parker today:

AMR's Thomas Horton told US Airways' Doug Parker that he won't be rushed into any deals and will methodically compare all offers against AMR's plan for remaining independent, said a person familiar with the discussion. This person spoke on condition of anonymity because details of the meeting haven't been made public.

AMR spokesman Michael Trevino said the company "will continue to move aggressively to complete both our plan and our comprehensive process of reviewing a range of alternatives to measure against it."

Horton called Parker on Wednesday and set up a breakfast meeting for Thursday in Washington. There, Horton told Parker that AMR will complete its plan to reorganize as a stand-alone company and will consider alternatives including merging with another airline, said the person familiar with the meeting.

http://finance.yahoo.com/news/ceos-amr-us-airways-discuss-153909542.html

American Airlines Chief Executive Officer Tom Horton told US Airways CEO Doug Parker that the bankrupt carrier won’t be rushed into any merger, people familiar with the matter said.

The exchange occurred today during a breakfast meeting between the two executives at a Washington hotel, said the people, who declined to be identified because the discussion was private. Horton reached out to Parker by e-mail yesterday to suggest the session, one of the people said.

American’s CEO outlined how American’s review of alternatives to its own plan to emerge from bankruptcy independently will work and what criteria the company will apply, Mike Trevino, a spokesman for American parent AMR Corp. (AAMRQ), said in an e-mailed statement.

http://www.bloomberg.com/news/2012-07-19/amr-ceo-said-to-tell-suitor-he-won-t-be-rushed-on-deal.html?cmpid=yhoo

In other news, LCC is down over 7% on the day as investors wake up to the reality that US may not take over AA quite as fast as Parker hoped.

 

[Hopeful]

looks like ol' Dougie's gonna have to wait until at least December 29!​

This thread isn't about Horton, but since you brought him up, here's this morning's "news" about a breakfast meeting Horton had with Parker today:


http://finance.yahoo...-153909542.html


http://www.bloomberg...html?cmpid=yhoo

In other news, LCC is down over 7% on the day as investors wake up to the reality that US may not take over AA quite as fast as Parker hoped.

He's gpnna have to wait until the end of the year at least!
http://finance.yahoo.com/news/court-allows-amr-keep-reins-151552952.html

 

[wings396]

All this info is direct from their waiter I presume....