If they couldn't line up DIP financing, perhaps it is due to the lock ups in the credit market. Usually, if a company can't secure DIP financing it is more likely to a disorderly filing. In the case of an airline, I would think it makes liquidation or possibly a sell off much more likely.

 

Why is the press once again making out it is mainly the employees fault? The labor costs are too high. Give me a break. The industry has had no significant pay raises since 2000, and that was catch up for the 90's. How about management bonuses and golden parachutes?

I expect all those that rushed to retire in the last couple of months are very happy they did. Will the courts come after their lump sums? If so I expect a rush of divorces and money going to ex wives. Just like CAL.

Good luck to all AMR employees and don't give them even more. United did twice and it screwed everyone in the whole industry. Stick to your guns, and stick together.

 

How many start jumping ship as of Dec 1st?
With retirements increasing and recalls now even more likely to defer or run to the hills. How will AA position itself to get new hires while in BK?

Good luck to all at AA and Eagle. Stand tall and fight for what you deserve.

 

How will this affect new hires? I'm starting class with Eagle in January. Is that going to happen?
When the other majors filed for bankruptcy, what exactly did happen? Are pilots going to be furloughed? What is the foreseeable future for Eagle?
Sorry if any of these questions are obvious, but I just moved to the USA a couple months ago and have no idea what to expect of a situation like this.

 

Sorry to hear about this fellers and ladies, good luck and God speed. I have several great friends over there, and my prayers are with them and the AA family.

I have watched in disbelief as a loyal passenger, AAdvantage member and a hometown fan as this great company has had numerous missteps in the past decade. I can only say that most (with few exceptions in the past few years) of the frontline employees have been amazing and very helpful, courteous and hardworking. It really is upsetting to know that the roller coaster ride my good friends have had to deal with in this last round of CBA negotiations was all just wasted time, as it appears the company was negotiating only for PR, and not in good faith. As a free market, Austrian economist believer, it breaks my heart to see bad management, cronyism and a total lack of vision and dedication ruin the lives of so many. My hope is that emerging from BK, you ALL have a shared vision going forward, and return to your former glory.

Again, my thoughts and prayers for all involved.

 

After steamrolling the fellow professionals from RENO and TWA, would you want to merge seniority lists with American ?

I have to believe other airlines have steered away from American for this reason.

 

 

Do you miss Gerry ?

Don't worry after he drinks all the champagne and eats all his caviar, and enjoys his nice soft landing from his parachute; he'll be back in some capacity to take even more employee wages and buy another villa in Western Mexico.

 

Agreed. AA has 30 billion in debt and pay some of the highest financing rates amongst the majors. But the reason for filing is because labor wouldn't take pay cuts??

 

Continental has filed for BK twice. They had been so beaten down from those encounters that they never had a contract as good as the other legacies in the late 1990's/early 2000(pre9/11). They also took a big voluntary concession contract in 2003ish that they are still living under.