USA320Pilot
Veteran
MEC CODE-A-PHONE UPDATE - May 24, 2005
This is Jack Stephan with a US Airways MEC update for Tuesday, May 24th, with two new items.
Item 1. On May 20, US Airways filed a motion with the Bankruptcy Court seeking approval of procedures for other entities to submit competing plans of reorganization funding proposals. Those entities who wish to file competing proposals must satisfy certain requirements, including a $25 million deposit at the time of submission of its proposal. Proposals must be made within 30 days after the court approves the procedures.
If no competing proposals satisfying the requirements are made, US Airways will seek confirmation of a plan implementing the Merger Agreement between US Airways and America West, and the Investment Agreements with the plan investors.
If a competing bid is ultimately approved by the bankruptcy court, under certain circumstances, US Airways would have to pay America West $15 million for withdrawing from the merger. If America West withdraws its offer, under certain circumstances, it would have to pay US Airways $15 million. In addition, if a competing bid is approved by the court, under certain circumstances, US Airways may be required to pay certain merger investors breakup fees totaling as much as $6.75 million.
Item 2. The report on the results of the Age 60 Rule education campaign and poll was presented during ALPA's Executive Board meeting today.
Overall, nearly 38% of eligible ALPA members participated in the web survey. In addition to the web survey, traditional telephone polling augmented the web survey to ensure an accurate demographic representation of the membership.
Taken together, the telephone poll data and the web survey data provide extremely accurate results, with a very low sample margin of error.
The results from all data sets were very similar. In response to the question, "Do you favor changing the FAA Age 60 Rule," in the phone poll, 39 percent said yes to a change, 54 percent answered no to changing the rule.
When using the largest balanced sample from the web survey, 42% said yes to a change, and 56% said no to changing the rule.
Phil Comstock, president of the Wilson Center for Public Research, presented a thorough report to the Board that is now available to ALPA members on the members' only Age 60 section of the ALPA website.
This is Jack Stephan with a US Airways MEC update for Tuesday, May 24th, with two new items.
Item 1. On May 20, US Airways filed a motion with the Bankruptcy Court seeking approval of procedures for other entities to submit competing plans of reorganization funding proposals. Those entities who wish to file competing proposals must satisfy certain requirements, including a $25 million deposit at the time of submission of its proposal. Proposals must be made within 30 days after the court approves the procedures.
If no competing proposals satisfying the requirements are made, US Airways will seek confirmation of a plan implementing the Merger Agreement between US Airways and America West, and the Investment Agreements with the plan investors.
If a competing bid is ultimately approved by the bankruptcy court, under certain circumstances, US Airways would have to pay America West $15 million for withdrawing from the merger. If America West withdraws its offer, under certain circumstances, it would have to pay US Airways $15 million. In addition, if a competing bid is approved by the court, under certain circumstances, US Airways may be required to pay certain merger investors breakup fees totaling as much as $6.75 million.
Item 2. The report on the results of the Age 60 Rule education campaign and poll was presented during ALPA's Executive Board meeting today.
Overall, nearly 38% of eligible ALPA members participated in the web survey. In addition to the web survey, traditional telephone polling augmented the web survey to ensure an accurate demographic representation of the membership.
Taken together, the telephone poll data and the web survey data provide extremely accurate results, with a very low sample margin of error.
The results from all data sets were very similar. In response to the question, "Do you favor changing the FAA Age 60 Rule," in the phone poll, 39 percent said yes to a change, 54 percent answered no to changing the rule.
When using the largest balanced sample from the web survey, 42% said yes to a change, and 56% said no to changing the rule.
Phil Comstock, president of the Wilson Center for Public Research, presented a thorough report to the Board that is now available to ALPA members on the members' only Age 60 section of the ALPA website.
