What's Next
Dec. 23: CWA finishes voting on the new contract.
Jan. 3: If the CWA TA is rejected, the court will hear CWA arguments to defend its position against the company's S.1113 motion.
Jan. 5: AFA finishes voting on the Tentative Agreement (TA). If the TA is rejected, the court will hear AFA arguments to prevent "imposition" the same day as the vote results, which should be available around 10:00 a.m.
Jan. 6: Bankruptcy judge expected to rule on request to throw out labor contracts per the S.1113 motion and slash retiree pensions and health care per the S.1114 motion.
Jan. 14: Airline's permission to use ATSB funds expire and management must negotiate new agreement with the key creditor. Reports indicate the ATSB will permit the company to continue to use the guaranteed funds, provided the company obtains its target cost cuts from all stakeholders.
Jan. 14: Airline must find $100 million investment to keep key financing deal in place. As with the new GE agreement, it is likely a new creditor will require the company to reach its target cost cuts prior to the airline receiving any new liquidity.
Regards,
USA320Pilot
Dec. 23: CWA finishes voting on the new contract.
Jan. 3: If the CWA TA is rejected, the court will hear CWA arguments to defend its position against the company's S.1113 motion.
Jan. 5: AFA finishes voting on the Tentative Agreement (TA). If the TA is rejected, the court will hear AFA arguments to prevent "imposition" the same day as the vote results, which should be available around 10:00 a.m.
Jan. 6: Bankruptcy judge expected to rule on request to throw out labor contracts per the S.1113 motion and slash retiree pensions and health care per the S.1114 motion.
Jan. 14: Airline's permission to use ATSB funds expire and management must negotiate new agreement with the key creditor. Reports indicate the ATSB will permit the company to continue to use the guaranteed funds, provided the company obtains its target cost cuts from all stakeholders.
Jan. 14: Airline must find $100 million investment to keep key financing deal in place. As with the new GE agreement, it is likely a new creditor will require the company to reach its target cost cuts prior to the airline receiving any new liquidity.
Regards,
USA320Pilot