Originally Posted by Proximity

A PEB starts another cooling off period, during which each side must maintain status quo. However, a PEB cannot prevent a strike once the PEB cooling off period expires. Again...only Congress can prevent a strike.

In the 1997 AA negotiations, Clinton called a PEB right as the NMB cooling off period ended, stopping the strike right when it started. Then negotiations continued leading to a contract that was approved by the majority of APA members. No doubt AA pilots got a better deal than if they had believed that the "RLA will never release us", but I'm least knowledgeable about AA so maybe someone else can fill in the gaps.