Originally Posted by
jrtimm
This is true however, the deal that AA pilots agreed to in order to avoid bankruptcy in 2003 (which is what I thought you were referring to) did not solve AA's cost problems which lingered for years keeping their pilots at/near the bottom of their competitive set in pay. Meanwhile, even after the pillaging or our contract in BR, we recovered at a fast clip and sit today in a much better position overall. I think if you run the numbers, the evidence is scant that they made the 'smart move.' I could be wrong.
Again, the point is, they made mistakes, we made mistakes, we're all human but there is no question that we would be stronger together.
I believe it saved their retirement. The bankruptcy filing later was administrative not economic. The filings post 911 were for survival and even then it was touch and go. American had 5 billion in cash when they filed and the industry was on the uptick. It was purely to try and break the unions. They also still had full access to the capital markets unlike airlines post 911.