September 13, 2004
File: USA-18
2004-92
IAM / US AIRWAYS UPDATE
TO ALL IAM MEMBERS AT US AIRWAYS:
Dear Sisters and Brothers,
The announcement that US Airways has filed for its second Chapter 11 bankruptcy in as many years is indeed a disappointment for IAM members who provided more than $1.5 billion to finance the company's previous bankruptcy restructuring. Despite our best efforts, this company is once more a victim of mismanagement and failed business plans.
While fate and circumstance has made you veterans of the bankruptcy process, members and their families will be justifiably concerned about the future. Having landed the carrier in bankruptcy, it remains uncertain where management plans to take it next.
In the immediate future, US Airways will fly the same schedule today as it did yesterday. Employees will be paid on time and banks will cash all US Airways paychecks. Medical claims will be processed in the same manner and retirees will receive pension checks as usual.
All provisions of our collective bargaining agreement remain in effect today. The IAM will continue to enforce our contracts through the established grievance procedure.
When the possibility of bankruptcy became apparent several months ago, the Machinists Union retained bankruptcy attorneys who are prepared to represent you in court. The IAM has resources and experience in this area. We do not intend to be passive participants in US Airway's bankruptcy. We are, in fact, primed to play an active role.
Although changes affecting all US Airways employees are possible, it is unclear how soon any changes may occur. Your careers and the welfare of your co-workers, friends and families depend on our solidarity at this critical stage.
Bankruptcy can sometimes be a lengthy process, and we will keep you informed of developments throughout.
Sincerely and fraternally,
William O'Driscoll
President and Directing
General Chairman
IAM DL 142
S.R. Canale
President and Directing
General Chairman
IAM DL 141
File: USA-18
2004-92
IAM / US AIRWAYS UPDATE
TO ALL IAM MEMBERS AT US AIRWAYS:
Dear Sisters and Brothers,
The announcement that US Airways has filed for its second Chapter 11 bankruptcy in as many years is indeed a disappointment for IAM members who provided more than $1.5 billion to finance the company's previous bankruptcy restructuring. Despite our best efforts, this company is once more a victim of mismanagement and failed business plans.
While fate and circumstance has made you veterans of the bankruptcy process, members and their families will be justifiably concerned about the future. Having landed the carrier in bankruptcy, it remains uncertain where management plans to take it next.
In the immediate future, US Airways will fly the same schedule today as it did yesterday. Employees will be paid on time and banks will cash all US Airways paychecks. Medical claims will be processed in the same manner and retirees will receive pension checks as usual.
All provisions of our collective bargaining agreement remain in effect today. The IAM will continue to enforce our contracts through the established grievance procedure.
When the possibility of bankruptcy became apparent several months ago, the Machinists Union retained bankruptcy attorneys who are prepared to represent you in court. The IAM has resources and experience in this area. We do not intend to be passive participants in US Airway's bankruptcy. We are, in fact, primed to play an active role.
Although changes affecting all US Airways employees are possible, it is unclear how soon any changes may occur. Your careers and the welfare of your co-workers, friends and families depend on our solidarity at this critical stage.
Bankruptcy can sometimes be a lengthy process, and we will keep you informed of developments throughout.
Sincerely and fraternally,
William O'Driscoll
President and Directing
General Chairman
IAM DL 142
S.R. Canale
President and Directing
General Chairman
IAM DL 141