First Quarter Operating Loss Of $250 Million

[herkav8r]

So FWAAA, your saying that if AMR had fully funded their pension they would have lost money also?

Delta Air Lines Inc. tops the list of U.S. airlines with underfunded pensions, with a deficit of $5.3 billion, according to S&P. The funding deficit is $3.8 billion at Northwest Airlines Corp., $2.7 billion at American Airlines and $1.6 billion at Continental Airlines Inc.

 

[FWAAA]

So FWAAA, your saying that if AMR had fully funded their pension they would have lost money also?

Delta Air Lines Inc. tops the list of U.S. airlines with underfunded pensions, with a deficit of $5.3 billion, according to S&P. The funding deficit is $3.8 billion at Northwest Airlines Corp., $2.7 billion at American Airlines and $1.6 billion at Continental Airlines Inc.

[post="268693"][/post]​

No, I'm not saying that. AMR lost money even without transferring $2.7 billion to its plans. AMR will probably contribute its expected $310 million to its pension plans by June 30 of this year. The law does not require that AMR contribute $2.7 billion, and of course it won't.

And to the fools at AA who keep saying "We'd be better off in bankruptcy, like our brothers at UAL." I'll have some of their drugs, please. B)

 

[Bob Owens]

That's an impressive turnaround. Operating loss of $304 million in January and February, then a $54 million operating profit in March. Not too shabby.

Then there's AMR, which posted an Operating profit for Q1 of $23 million, (compared to UAL's $250 million Operating loss) - and that's including pension fund contributions, which UAL couldn't be bothered to make.

Good times are just around the corner.

Been hearing that at UAL for nearly 3 years now.

[post="268556"][/post]​

Thats because AA does not have paid holidays which is a much bigger expense than pensions.While AA claims to have paid Holidays the fact is they only recognize five holidays and if you work 8 hours you only get 4 hrs pay.

 

[Bob Owens]

And to the fools at AA who keep saying "We'd be better off in bankruptcy, like our brothers at UAL."   I'll have some of their drugs, please.     B)

[post="268740"][/post]​

You can say that because you dont work for any airline. Maybe the comment about drugs is one of the reasons why.

Still have not figured out your interest here but I suspect you have a lot of AMR stock and hope to see a large return on your investment. Thats why its obvious that you are hoping that UAL liquidates, because with UAL out of the way and AA in the best position by far to scoop up their assetts , along with the super low labor rates they have, stockholders would make a killing, except for the employees who were given a few hundred shares for $120,000 worth of concessions. Gee, it only needs to go to $300/share in order for me to get back what I gave up. So while people like you could see a huge gain if they bought AA stock, we would only break even at $300/share.

I'll tell you what give me back what we had and I'll take BK anyday over what we got. If AA, UAL,DAL and USAIR were all in BK the workers would be better off because we all know there is no way they could all liquidate. The impact on the economy would be too great and pricks like Jack Welch would see their net worth go down as GE eats 1000 airliners.

The way it is now with some in, some out, and the ones that are out of BK are getting bigger concessions than the ones in BK, is the worst possible case scenario for workers.

I've seen more coworkers quit and leave the industry in the last year than I saw in the preceeding 20 years.

By the way, in New York if you go on strike you do get Unemployment Insurance, however it is delayed a few weeks.

Not long ago Bush said that you could not strike because it would hurt "the hard working Americans". Well lets see what happens. Instead of striking now, leave your options open, reject any modifications, allow the company to impliment what they want and wait till the summer to strike or resort to other self help measures. See how the government deals with hundreds of thousands of people stuck in terminals all over the country. It will be peak travel season and the other airlines wont be able to make any extra money off the deal because all their flights will already be full. Ever see what a terminal is like when all of a sudden dozens of flights are cancelled? Hey, what do we have to lose? At one time these were good paying jobs that came at a high personal price. Shift work, working holidays, weekends, no security, but we were paid weel and had good benifits and a pension. Now the pay is gone, same with the benifits, now on top of that you are giving up weekends and holidays with your family for a job that isnt even going to provide you with a pension? Whats the point?

The fact is it aint goping to get better until we start fighting back.

 

[DCT JVL]

You eliminate the pension related liability and expense, but isn't the replacement retirement plan a company match to the 401K? If so, you still wind up with either a cash flow line or an expense line.

[post="268582"][/post]​

Minor correction. The replacement for the pension that was agreed to by ALPA, PAFCA and the TWU is a defined contribution plan, seperate from the 401(k). It does not require the employee to defer any money to the 401(k) to receive the contribution from the company and will not count towards the maximum limits on 401(k) contributions established by the IRS. Other than that, management of the defined contributions will be very similar to how employees manage their 401(k) accounts.

I have no idea what AMFA/AFA and the IAM will end up with.