Creditors committee: We’re not going to wait forever for a pilots’ deal
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By tmaxon
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12:24 pm on September 7, 2012 | Permalink
The Unsecured Creditors Committee filed a statement Friday supporting the collective bargaining agreements approved by the Transport Workers Union and the Association of Professional Flight Attendants. Those go before U.S. Bankruptcy Judge Sean Lane for his blessing on Wednesday.

But in doing so, the committee warned that its support of giving AMR stock to the Allied Pilots Association is contingent on a deal happening sooner rather than later. It put the equity awards support at American Eagle for members of the Air Line Pilots Association, Association of Flight Attendants and TWU in the same category.

The UCC said it “has has agreed to support the equity stake negotiated” by those unions “in order to support prompt, consensual agreements.”

*“However, the Committee’s support will continue only to the extent that ratified consensual agreements are reached promptly,” it said in its filing.

“The Committee will not support equity stakes or claims for any labor organization that does not ratify a CBA nor will the Committee support any further economic value going to labor organizations beyond the last, best and final offers made by the applicable Debtor,” meaning American Airlines or American Eagle.