Originally Posted by
R57 relay
Mike, you are wrong. Did you read the PPG article above? That's how it went down, and I know for a fact.
Did you catch the part where US had more cash than AWA? It was locked up in credit card hold backs and ATSB covenants. The money for the merger was not raised by Parker, it was raised by Lakefield and Luth.
Parker stepped in and unlocked that and with that it did save US. One of your pilots (AOL chief told) told me that he thought SW would step in with a different plan. Who knows, but the only real fact we know is that US never went out of business. It merged with AWA and brought it's value with it, value that AWA didn't have the money to buy. It was a very good transaction for the corporations and Parker has told you over and over that the east is the main money generator. That the other majors getting it's costs to AWAs level, with greater revenue opportunities, was the DEATH KNELL for AWA.
It keeps coming up because you guys keep spewing the BS about it. It's the only way anyone with a conscience can justify the Nic. Just like Carl said, no one in our situation would want to accept the Nic and you guys always leave out the FACT that our transition agreement allowed what happened. You don't want to accept that FACT.
No,the only revionist history is your assertion that it as AWA was in trouble, you guys were toast and that is the truth.
That's why Nicolau placed people where he did on the list. That's why Parker is running the show. If you could have raised the cash you would have. You couldn't, so AWA had to come in and rescue you. Like I said, it is history. This deal is different. AA actually has cash, AAA did not. Same difference, Parker has the plan to run the show and make both places better. I just don't want to hear guys talking sh## 5 years from now that AA saved us. Guess which pilot group of the three was not in bankruptcy durin both deals?