This thing has been a real roller coaster.

Something we at AA have to accept is that, in the past, we've had a few contractural elements that were exceptional... in that AA simply did it quite DIFFERENT, not necessarily better or worse, than other legacies.

Sick, vacation, retirement, bidding, etc. These are going to be brought in-line. Giant retirement lump sums are gone forever. Lines are going to be higher time. Work rules are going to change.

If what is described above is presented as a package, AND with a secured 13.5% equity stake, I'd be leaning towards a yes vote, and I think a TA would pass.