Originally Posted by
tbjav8r
OK, how about some "objective" doom and gloom...................
“
We cannot afford to retain all the aircraft currently in the American and American Eagle fleets at their current rates, and so we have no choice but to make substantial reductions"
“
Additionally, to conserve our liquidity, subject to the requirements of the U.S. Bankruptcy Code, during the 60-day Section 1110 period, we plan to make payments when due of aircraft rent and mortgage principal and interest payments only on certain aircraft in our fleets,” the company adds"
Aviation Week Nov. 30, 2011
By Darren Shannon
So there it is. Will the company cease-No.
Will there be reductions (read-less aircraft, ie, less piolts) Yes.
Should a 5 or 10 year seniority pilot be worried-Only about the coming pay cuts!
Should anybody hired this year (or last) be concerned-Keep sending out those resumes and keep interviewing. You don't have to accept an offer but keep multiple eggs in your basket!!
Hey you forgot to quote the part of the letter that says that AMR will be acelerating their aircraft fleet renual, you cut the middle of the paragraph intentianly to make it fit your agenda. Thanks for the miss information!
We cannot afford to retain all the aircraft currently in the American and American Eagle fleets at their current rates, and so we have no choice but to make substantial reductions in the cost of the aircraft which we retain. Moreover, in view of the large number of aircraft we have on order from Airbus and Boeing, we also seek to accelerate our fleet renewal strategy and, as a result, we do not require the use of all aircraft currently in our fleets. Additionally, to conserve our liquidity, subject to the requirements of the U.S. Bankruptcy Code, during the 60-day Section 1110 period, we plan to make payments when due of aircraft rent and mortgage principal and interest payments only on certain aircraft in our fleets.