USAirways quietly Becomes creditor of AMR

[etops1]

Surprise surprise ...
http://www.wfaa.com/news/business/USAirways-quietly-became-creditor-of-American-Airlines-162268805.html

 

[Strake]

Isn't this exciting!

 

[PITbull]

US Aiways managment is clever and sneaky. Talk about "back door interference". That is just what they are doing.

AA labor better watch the "back door", that's how US Airways operates "covert".

 

[FWAAA]

US bought a small amount of the debt so that US could file statements like this with the court:

http://www.amrcaseinfo.com/pdflib/3509_15463.pdf

I own a small amount (a very small amount) of the publicly traded AMR debt, so I could file a similar statement with the court. The filing by US is barely a step up from the letters that AA employees file with the court begging the judge to not permit AA to change their pay or benefits.

It's a "Look at me! US is still relevant to AA's bankruptcy!" filing. Anyone owning AMR debt could file something similar. Note the paragraphs where US argues that merging AA with US is the best course of action. Parker's juvenile impatience knows no bounds.

 

[toroshark]

What is worse, the thieves we know or the parasitic ones?

 

[Kellerguy]

Possibly will contribute to tortuous interference charges?

 

[N288AA]

Anyway you look at it, this disfunctional organization has to have a complete managenet change. I don't see Horton surviving the bk process.

 

[damajagua]

What a joke this Usairways filing

 

[wings396]

Yes, its a joke.....on you.

 

[will fix for food]

Yes, its a joke.....on you.

Be careful what you wish for.

This is from Horton:

"For many years, I have publicly been a proponent of consolidation as one path to a healthier US airline industry. We have assessed many possible combinations in the past, including, of course, an acquisition of US Airways. In fact, last year, I approached my counterparts at other airlines about the merits of possible combinations. Since that time, as we embarked on the restructuring journey, I have held the view that it is best that we first put our own house in order before considering a complex and challenging airline acquisition. That is just common sense. But it is also prudent merger strategy, should we take that path, to assure that we begin from a position of greatest strength and stability. That has been our steadfast approach. It is no surprise that others have sought to disrupt our restructuring for their own benefit and contrary to the best interests of our company. This has not, however, distracted us from proceeding with a successful restructuring of American, and we are arriving at the appropriate point to carefully and objectively evaluate the range of strategic alternatives available."

If history repeats itself US would be pretty much dismantled by AMR.

 

[AAviator]

Absent a merger with AA, LCC is toast.

This is do or die for Dougie and Co.

No harm, no foul, he's just acting out his last desperate act for a long term presence. Can't fault a guy for that.

 

[Overspeed]

Absent a merger with AA, LCC is toast.

This is do or die for Dougie and Co.

No harm, no foul, he's just acting out his last desperate act for a long term presence. Can't fault a guy for that.

I read Parker gets a special $20M buyout if he gets booted from the CEO position. He hasn't even merger between US and HP so he is probably praying for a AMR/US merger so he can take his money and run.

 

[N288AA]

Be careful what you wish for.

This is from Horton:

"For many years, I have publicly been a proponent of consolidation as one path to a healthier US airline industry. We have assessed many possible combinations in the past, including, of course, an acquisition of US Airways. In fact, last year, I approached my counterparts at other airlines about the merits of possible combinations. Since that time, as we embarked on the restructuring journey, I have held the view that it is best that we first put our own house in order before considering a complex and challenging airline acquisition. That is just common sense. But it is also prudent merger strategy, should we take that path, to assure that we begin from a position of greatest strength and stability. That has been our steadfast approach. It is no surprise that others have sought to disrupt our restructuring for their own benefit and contrary to the best interests of our company. This has not, however, distracted us from proceeding with a successful restructuring of American, and we are arriving at the appropriate point to carefully and objectively evaluate the range of strategic alternatives available."

If history repeats itself US would be pretty much dismantled by AMR.

Yes it will with AMR management just like AirCal, Reno, Trans Carribbean and TWA. There was an article in the FW Star Telegram on how dismal AMR management has been with mergers. Here is a link:
http://www.star-telegram.com/2012/07/12/4095206/american-airlines-the-abysmal.html

 

[swamt]

Absent a merger with AA, LCC is toast.

This is do or die for Dougie and Co.

No harm, no foul, he's just acting out his last desperate act for a long term presence. Can't fault a guy for that.

I think your right. It's pretty much going to happen guys, rather in or out of BK is the question. This latest action by Parker was position move. This gives them a seat as a creditor, now they are involved as well as informed on future moves by AA in BK. Parker has also offered to keep AA's HQ in FW as well as the name. How could any one deny him a merger. The only reason AA does not want a merger to happen while they are in BK is because US management team will prevail at the helm. This is the only thing that neither side is willing to admitt until it becomes reality.

On a second note, the TWU better start focussing on integration discussions between them and the IAM. Let's not forget how many of you AA'ers condemed the AMFA mechs for not doing DOH with the AT guys. Let's see if you keep that same attitude with US IAM. I will be willing to bet that the IAM will end up prevailing as the new representive union for the mechs at a new combined AA/US, god knows after all the crap the TWU is currently doing, they will be fired. If the TWU has not yet lost to AMFA they will lose to IAM. It does not look good for the TWU's future at AA. GO AMFA!!! AMFA info meetings being held this weekend. Video everything and post for all to see...

 

[will fix for food]

Absent a merger with AA, LCC is toast.

This is do or die for Dougie and Co.

No harm, no foul, he's just acting out his last desperate act for a long term presence. Can't fault a guy for that.

They look like toast with a merger too.