Who''s going to watch the nonrev list for A4''s to NYC

FA Mikey

Veteran
Aug 19, 2002
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goldwatermiller08.com
We can safely predict a BK filing by a few hours by seeing if Jeff Cambell or one of the other SR exec''s are on there way to NYC, late Monday of Tuesday AM.

Its interesting they chose NYC over Ft. Worth. You would think they have more judges in there pocket in TX than NY.
 

j7915

Senior
Sep 7, 2002
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I would think that Texas is even less labor friendly, but it may be more supportive of a "native" company that is threatened by them yankee bankers.

The location of the financial houses is probably just as decisive.
 

xsqueezeme

Member
Sep 8, 2002
43
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On 4/12/2003 11:00:52 PM FA Mikey wrote:

We can safely predict a BK filing by a few hours by seeing if Jeff Cambell or one of the other SR exec''s are on there way to NYC, late Monday of Tuesday AM.

Its interesting they chose NYC over Ft. Worth. You would think they have more judges in there pocket in TX than NY.

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i just heard that congress passed the aid package. How can AA file for Bankruptcy now that it has $$$ coming in the next few days/weeks/months in the form of this aid package, tax relief, tax refunds, sale of worldspan, etc., doesn''t it need to show that there''s a need for $$$ to file for bankruptcy?
 
First, A2 thru A12 no longer appear on the priority list. They''re reserved space. You can look at the PS list, but that won''t tell you their priority code.

Why file in NY? As already mentioned, the courts each have their own pros/cons, but the Texas courts don''t see filings on the scale that AMR could turn out to be. Also, IIRC the bankruptcy lawyers are NY based, as is the primary DIP provider. It would be bad enough having to pay legal fees, but we certainly don''t need the added expenses of putting them up in hotels, feeding them, taxis, etc...
 

airlineorphan

Senior
Aug 20, 2002
380
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www.usaviation.com
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On 4/13/2003 9:28:47 PM xsqueezeme wrote:


i just heard that congress passed the aid package. How can AA file for Bankruptcy now that it has $$$ coming in the next few days/weeks/months in the form of this aid package, tax relief, tax refunds, sale of worldspan, etc., doesn''t it need to show that there''s a need for $$$ to file for bankruptcy?


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Beware....

The new airline bailout contains a provision that requires any carrier that is a recipient of aid to cut 10% of its operating costs (based upon June 2002 levels) or cut by the amount of aid given (whichever is the greater amount). This is in "TITLE IV: AVIATION INDUSTRY RELIEF PROVISIONS; SEC. 408. AIR CARRIERS TO SUBMIT OPERATIONAL EXPENSE REDUCTION PLANS."

American and other carriers may end up filing Chapter 11 claiming they have to in order to meet these requirements. Thanks a lot Congress!

In solidarity,
-Airlineorphan
 
Aug 20, 2002
10,017
675
www.usaviation.com
Airlineorphan;
If your correct(and it sounds "very" resonable, that your probably correct),
THAN.
God help us if we vote yes(and have our wages etc., cut 16+ %), and then "take it in the shorts" by AA(BK-11), AFTER we give them concessions.

CARTY has "warned" us OVER + OVER, that there is NO guarentee that he still won''t seek BK-11 !!

FOR GOD SAKES PEOPLE, "WAKE UP"

VOTE "NO" !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

NH/BB''s
 

Hopeful

Veteran
Dec 21, 2002
5,998
347
NH/BB''s:

Save your breath. The Yes voters believe that S.1113 will prevent the bankruptcy court from taking further concessions since they were FOR the T/A''s.
 
Dec 5, 2002
66
0
www.usaviation.com
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On 4/13/2003 9:28:47 PM xsqueezeme wrote:

i just heard that congress passed the aid package. How can AA file for Bankruptcy now that it has $$$ coming in the next few days/weeks/months in the form of this aid package, tax relief, tax refunds, sale of worldspan, etc., doesn''t it need to show that there''s a need for $$$ to file for bankruptcy?

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Your airline has negative cash flow and cannot access the capital markets. Band aids don''t really help gunshot victims.
 

FWAAA

Veteran
Jan 5, 2003
10,251
3,900
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On 4/13/2003 9:28:47 PM xsqueezeme wrote:

i just heard that congress passed the aid package. How can AA file for Bankruptcy now that it has $$$ coming in the next few days/weeks/months in the form of this aid package, tax relief, tax refunds, sale of worldspan, etc., doesn''t it need to show that there''s a need for $$$ to file for bankruptcy?


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AMR is running out of money and will file tomorrow if any of the TAs are rejected, federal aid bill or not.

AMR will have no problem meeting the Chapter 11 definition of a "debtor."

You sound like you fear bankruptcy.
 

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