US Airways Has Labor Backing for AMR Takeover: Sources
- Thread starter usfliboi
- Start date
- Status
OP
- Aug 20, 2002
- 2,070
- 270
- Thread Starter
- #2
http://aviationblog.dallasnews.com/archives/2012/04/thestreetcom-reports-us-airway.html
Beancounter
Veteran
- Jun 28, 2009
- 1,378
- 1,817
Thanks for posting. I have several stocks set to alarm if they increase 10%+ in a short period. It was like someone tied the stock off to a booster rocket. My news feed locked up and I couldn't tell what did it. Interesting times.
Bean
Bean
AMR Unions Said Prepared to Back US Airways Takeover Offer
The groups plan to say that they believe they can reach better terms with US Airways than what they expect if American parent AMR Corp. exits bankruptcy by itself
Click here to read the story.
US Airways stock trading up more than 10% to $9.20 per share
Click here to read the story.
TheStreet.com reports US Airways has 'qualified backing" from three AMR unions
Several local bases of the Allied Pilots Association on short notice have scheduled meetings on Thursday or Friday
Click here to read the story.
The groups plan to say that they believe they can reach better terms with US Airways than what they expect if American parent AMR Corp. exits bankruptcy by itself
Click here to read the story.
US Airways stock trading up more than 10% to $9.20 per share
Click here to read the story.
TheStreet.com reports US Airways has 'qualified backing" from three AMR unions
Several local bases of the Allied Pilots Association on short notice have scheduled meetings on Thursday or Friday
Click here to read the story.
CallawayGolf
Veteran
- Nov 13, 2009
- 1,920
- 1,961
Wall Street likes the talk of consolidation and several labor groups seem to be offering an endorsement of the Parker/Kirby plan. Sounds like everything is falling into place according to the acquisition plan Parker likes best. I think it's fair to say that a fiscally sound offer to bring the two carriers together will not only be revealed soon, but it will be given serious consideration by the parties who have the ultimate say in how AA emerges from bankruptcy protection.
Horton is in between a rock and a hard place. He wants to present a stand-alone plan that will result in reductions in labor costs (layoffs and concessions) and the reduction in service that will get employees, local communities and Congress all upset over AA's plans. If he doesn't take these steps AA will continue to bleed cash and have little chance of emerging from bankruptcy on their own. However, by making the necessary restructuring proposals to the bankruptcy court, Horton is playing right into Parker's hands who will offer employees, communities, and Congress an unquestionably superior option that involves bringing AA under the US umbrella and create an airline on--par with UA & DL for size and scale of services offered. Looking forward to seeing how all of this unfolds.
EastCheats
Veteran
- Mar 12, 2012
- 1,944
- 6,141
If Ted Reed writes it, then well....I guess it's a done deal. 
A least the folks in Charlotte believe The Street talker. :blink:
A least the folks in Charlotte believe The Street talker. :blink:
Beancounter
Veteran
- Jun 28, 2009
- 1,378
- 1,817
If Ted Reed writes it, then well....I guess it's a done deal.
A least the folks in Charlotte believe The Street talker. :blink:
That's funny I thought the same thing about the union backing, but then I saw the story running on credible news sites.
Bean
CallawayGolf
Veteran
- Nov 13, 2009
- 1,920
- 1,961
And take a look at today's stock price increase. Investors are placing a premium on the possibility that Parker will unveil his plans for getting the UCC on board with a merger.
EastCheats
Veteran
- Mar 12, 2012
- 1,944
- 6,141
I think we can agree that a credible news site would not have a reporter from the street.
Callaway makes a lot of sense in his post-quite on point.
That said, it's still very early in the process and alot can happen.
There could be other bidders and other merger partners..
Time will tell..
That said, it's still very early in the process and alot can happen.
There could be other bidders and other merger partners..
Time will tell..
BoeingBoy
Veteran
- Nov 9, 2003
- 16,512
- 5,865
If you see the UCC file a motion to shorten the exclusivity period, then something might be up. As long as the exclusivity period is in effect US can't present a plan to the UCC.
Also, hearings start next week on AA's 1113 motions, so it's getting late for the unions to do anything except negotiate with AA to stop that freight train bearing down on them. It's definitely too late for any offer from Parker to be approved before the fate of the 1113 motions are determined. So Parker will have to come up with a lot of financing before he can show a plan better than AA can - according to "unnamed sources" (presumably in Tempe) he's promising things that'll cost a lot more than what AA is proposing. Heck, just bringing the US employees up to DL + 3% will cost between 1/2 and 1 Billion dollars.
Jim
Also, hearings start next week on AA's 1113 motions, so it's getting late for the unions to do anything except negotiate with AA to stop that freight train bearing down on them. It's definitely too late for any offer from Parker to be approved before the fate of the 1113 motions are determined. So Parker will have to come up with a lot of financing before he can show a plan better than AA can - according to "unnamed sources" (presumably in Tempe) he's promising things that'll cost a lot more than what AA is proposing. Heck, just bringing the US employees up to DL + 3% will cost between 1/2 and 1 Billion dollars.
Jim
Phoenix
Veteran
Congratulations. You scooped 320. You evidently have more connections on the inside than he does.
Jimmy Neutron
Veteran
- Dec 2, 2005
- 566
- 99
American Fighting Off Hostile Takeover Rumors From US Airways
http://dfw.cbslocal.com/2012/04/18/american-plans-to-cut-another-1200-jobs/
"Analyst Denny Kelly says all U.S. Airways essentially needs is a verbal agreement with the three unions, and one with American’s creditors, and then have the bankruptcy judge sign off on the deal."
So since you are one of the most knowledgeable people on this forum, are you saying that essentially what this analyst says in this article is simply not true?
- Status
Similar threads
