Originally Posted by
georgetg
Meeting today with all four unions, AMR announced 15K layoffs and ending its employee pension plan. Last month AMR underfunded its required pension payment to the plan.
The $4B AMR had going into CH11 is disappearing quickly. In December alone AMR posted a $904M loss...
I don't think the 10,000-15,000 employees is just the unions. The NBC news afflicted in Dallas said that was for the entire company.
Second, they lost $904 million but they still have $4.1 billion in cash. Their revenue was actually a but more than expenses, so they have slightly more cash on hand than before.