December 6, 2002
To All IAM Represented employees at United Airlines:
Dear Sisters and Brothers,
Ever since the Air Transportation Stabilization Board (ATSB) denied United Airlines’ loan guarantee application on December 4, 2002, the United Airlines Union Coalition has been in near constant communication with the company to explore ways to avoid a bankruptcy.
After numerous discussions with company officials, it has become clear that the ATSB believes that United Airlines would need to make additional changes to its business plan to qualify for a loan guarantee. Unfortunately, there is insufficient time to correct the flawed business plan. Without the necessary corrections to the plan, additional employee involvement in United’s recovery at this time would not be sufficient to obtain ATSB approval. It is therefore with great disappointment that we are now certain a bankruptcy filing appears unavoidable and imminent.
A bankruptcy Q&A is available on both IAM web sites, www.iam141.org and www.iam141m.org, and additional information about how bankruptcy affects employees is being prepared. We will keep the membership updated on events throughout the entire bankruptcy process.
All United Airlines employees need to stand shoulder to shoulder at this most critical time in our company’s history. We must all work to ensure United Airlines avoids liquidation and successfully emerges from bankruptcy a healthier and stronger company.
Sincerely and fraternally,
S.R. (Randy) Canale
President
IAM District 141
Scotty Ford
President
IAM District 141-M
To All IAM Represented employees at United Airlines:
Dear Sisters and Brothers,
Ever since the Air Transportation Stabilization Board (ATSB) denied United Airlines’ loan guarantee application on December 4, 2002, the United Airlines Union Coalition has been in near constant communication with the company to explore ways to avoid a bankruptcy.
After numerous discussions with company officials, it has become clear that the ATSB believes that United Airlines would need to make additional changes to its business plan to qualify for a loan guarantee. Unfortunately, there is insufficient time to correct the flawed business plan. Without the necessary corrections to the plan, additional employee involvement in United’s recovery at this time would not be sufficient to obtain ATSB approval. It is therefore with great disappointment that we are now certain a bankruptcy filing appears unavoidable and imminent.
A bankruptcy Q&A is available on both IAM web sites, www.iam141.org and www.iam141m.org, and additional information about how bankruptcy affects employees is being prepared. We will keep the membership updated on events throughout the entire bankruptcy process.
All United Airlines employees need to stand shoulder to shoulder at this most critical time in our company’s history. We must all work to ensure United Airlines avoids liquidation and successfully emerges from bankruptcy a healthier and stronger company.
Sincerely and fraternally,
S.R. (Randy) Canale
President
IAM District 141
Scotty Ford
President
IAM District 141-M