Originally Posted by
What
The media calls this a merger but the only way that is going to happen is if AA Managment agrees to it or their exclusive period expires, this will likely be a hostile takeover. US Air would acquire all of AMR, unless they chose to break it up between other parties. As far as the pilots going and. It the airplanes, what would AMR do with order of airplanes with no gates, no slots, no routes established and no brand name! Essentially they would be a start up... But again if US Airways acquires AA they are acquiring AMR as a whole, with pilots, slots, airplanes, gates, 4.8 billion in cash and over 25 billion in debt!
Well, a "hostile takeover" is something that occurs outside BK, wherby an outside source goes directly to shareholders for the purposes of gaining control and overthrowing the current management/BOD. Different scenario. Any merger scenario wherby some assets (routes and aircraft with/without labor) are relinquished would have to approved as part of a POR.
Oh, and no one will be "acquiring 25 billion in debt". That is what the Chapter 11 process is for, i.e., to eliminate the majority of that. Regardless of a U merger or not or who has the awarded POR, AA will come out of Chapter 11 with very competitive labor costs, VERY low debt and plenty of investors willing to (actually wanting) to get in on the action.