Originally Posted by
aa73
I need some good, objective opinions on this question. As you all know, it is nothing but doom and gloom over here regarding what's headed our way. I have always been one of the VERY few optimistic ones that think AMR will turn around and prosper into a world class airline within a few years....
OK, please give it to me straight:
73
While you've gotten some good answers above, a couple stand out to me as inaccurate. Timbo stated:
Originally Posted by
Timbo
2. When I read your 1113 term sheat, I was surprised, it is MUCH better than what Delta threw at us. In fact, yours today is about what we finally ended up with, after about a year of 'negotiating'.
He's wrong. Some examples:
Your term sheet and Delta's 1113C proposal were remarkably similar. Pre-merger Delta opened for 200 79 seat jets (previous 70 seat jet limit), your guys opened for 255 88 seat jets. In our case, management got 15 76 seat jets with a growth to 30 based on mainline fleet.
The disability and sick plans proposed by the two companies are similar, with yours having the "managed care" piece. We kept the definition of disabled as unable to exercise a first class medical. Your management wants Social Security definition (unable to do any work in any field). Sick got a rolling 300 hours over 3 years at full pay (our bank recharges but does not roll over to 240 annual hours every June 1 if you've been here 9 years) with the rest at 75%. Your guys want 36 hours or two occurences at full pay, then 60% after that.
Both companies basically proposed FARs for work rules and no rigs. We kept almost all of our rigs and rules.
Originally Posted by
Timbo
AA's bankruptcy is no different than the others, except they are late to the party, so they get to dance with the fat chicks. All the pretty airlines have merged, so there ain't much left to choose from.
The one thing for certain, nobody on Wall Street cares what the AA Pilots think, and no amount of AA Pilot concessions can save the airline if Management has other ideas, ie. merger, or chop-shop. It's not all about the Pilots. Management is going to screw everyone. They are going to dump the leases in St. Louis, they got with TWA, they are going to 'restructure' all their debt. Screwing the Pilots is just icing on the cake, but you are not the only target here. So keep your chin up, go to work, fly safe, don't become a statistic because you will be distracted when talking about all this crap in the cockpit, no doubt.
On this I agree with Timbo.
The biggest difference I see not discussed for AMR is the change in the financial climate. DAL, LCC, UAL, and NWA all had ready access to the credit markets. Now, not so much. While AMR doesn't plan for DIP financing, I'm sure the current oil markets aren't making their business plan any easier. You guys lost over $1 billion real dollars last year. Also, PBGC has learned alot from UAL and DAL pension terminations. They're being way more aggressive with your management and the $4 billion in cash that AMR has.
Bankruptcy is no fun. Good luck.