Will US Airways CWA C/S Get Anything?

[usa1]

Valuing the new AMR
The estimated $5.3 billion in unsecured claims must be fully met by an equivalent value of post-bankruptcy stock (or cash) for current AMR shares to retain any value. It is therefore necessary to estimate the value of the company post-bankruptcy. However, some of the new shares are already "spoken for". Members of American's labor unions are being compensated for their concessions with equity stakes in the new company. Pilots will receive 13.5% of the new stock, according to their recently signed contract. Flight attendants will receive 3%, and members of the Transport Workers Union (mechanics, baggage handlers, and various other ground staff) will receive 4.8%. Thus, 21.3% of the new AMR's stock has already been promised to American's workers.

However, there is a strong possibility that American will merge with US Airways (LCC) either before or right after it exits bankruptcy. US Airways management has suggested that the combined value of the two companies would be $9.5 billion

http://seekingalpha....ill-fool-s-gold

 

[AAviator]

Why the hell would they??????

 

[AAviator]

There isn't a single US Airways employee that is a creditor in this bankruptcy.

 

[firedougparker]

I'm sure the CWA and Teamsters would love to get their mitts on a chunk of this pie!

They won't be creditors regardless, but we'll find out tomorrow if the CWA has organized AA's agents or not.

 

[zethya]

There isn't a single US Airways employee that is a creditor in this bankruptcy.

Why the hell would they??????

Since employees are a part of the Company, I think they are:
http://www.cbsnews.c...reditor-of-amr/

 

[usa1]

Are the US Airways pilots or f/a's getting stock in the new company?

 

[FWAAA]

Since employees are a part of the Company, I think they are:

No, that just means the US agents (as well as all other employees of US) are employees of a creditor. It does not make them creditors.

Pilots and FAs of US will get stock in the new merged company if (and only if) they currently own stock in US or they convince Parker to give them some. My guess is that for the right price (further concessions), Parker might be convinced to give the US employees some stock.

AA's employees are getting stock because they are creditors of AMR due to the huge concessions they just gave. US employees haven't given AA any concessions, and thus the AMR creditors committee hasn't given the US employees anything.

 

[AAviator]

Are the US Airways pilots or f/a's getting stock in the new company?

Different topic all together.

The 13.5% equity stake the pilots are getting is part of the losses incurred due to the abrogation of our CBA.

Based on what you are reading, t has to do with the AA BK filing. It has absolutely nothing to do with LCC, or Southwest, or Cathay Pacific.....

 

[usa1]

AA Cwa vote ends today.

 

[Hope777]

AA Rejects Union

http://finance.yahoo.com/news/american-airlines-passenger-agents-reject-211424592.html

 

[mike33]

AA forum

 

[usa1]

Hang on ..... its going to be a wild ride if we merge.

 

[ograc]

AA Rejects Union

http://finance.yahoo...-211424592.html

1,838 eligible voters who were so apathetic they couldn't be bothered to cast a vote concerning their future. How pathetic and sad. I could be wrong... but this vote was conducted by phoning in your choice wasn't it?