13.5% Stake
First off, let me say I am neither AA nor LCC.
This merger, if it happens is different than all the past mergers as it would be consummated while still in Bankruptcy. My question is this, the original equity stake for the AA pilots was based on a standalone exit, now if the companies merge in bankruptcy the value of the combined companies will be substantially higher. Shouldn't the LCC pilots receive a share of that since LCC is contributing to the greater value??
Surely this wasn't overlooked by the negotiators. It just doesn't seem right that the AA guys should receive the entire equity stake based on a much larger value created in part by LCC.
The AA pilots have come out of this bankruptcy much better than any other pilot group thus far, but I think the LCC guys should get thei fair stake as well for what their company brings to the dance.