APA BOD approves MOU
 

This is APA Communications Director Gregg Overman with the APA Information Hotline for Saturday, Dec. 29.

APA BOARD OF DIRECTORS VOTES TO APPROVE MOU: This morning the APA Board of Directors voted 11-5 to approve a proposed Memorandum of Understanding (MOU) for consideration by AMR and US Airways managements and the US Airline Pilots Association representing US Airways’ pilots. If these other parties agree to the terms of the MOU that APA has approved, the MOU would serve as a framework for an agreement if American Airlines and US Airways proceed to merge. If there is no merger between the two carriers, the MOU would be rendered null and void.

We recognize that our members are understandably interested in being briefed on the specifics of the MOU. Due to a judicially enforceable non-disclosure agreement and relevant Securities and Exchange laws, APA cannot disclose the terms that our Board has approved at this juncture. We are in discussions with the other three parties to the MOU process and the Unsecured Creditors’ Committee about the timetable for their review, and when we would be permitted to divulge specific details if the MOU is approved by the respective parties. We will continue to provide regular updates as MOU-related developments warrant.

It’s worth recalling that the United Airlines pilots’ union leadership did not publicly disseminate details of their pilots’ recently ratified tentative agreement for four months while the terms were under consideration. APA is involved in a complex business transaction under judicial supervision and we are therefore legally constrained in the amount of detail we can provide.

Please note that APA headquarters is currently closed for the New Year’s holiday and will reopen at 8 a.m. Central on Wednesday, Jan. 2. The APA leadership would like to wish everyone a safe and enjoyable holiday.

That’s it for now. Thanks for checking this hotline.


Posted in: Information Hotline

Where's USTUPID's press release at?

They probably aren't allowed to say anything after their last "accidental" statement. ;)

+1 Like :D

USTUPID, that's clever. Did you come up with that yourself?

You mean you haven't heard the good news yet? I'm guessing they have to get CIRP up and running out there.

USAPA is probably meeting behind closed doors (and lights off with a Ouija board trying to channel the spirit of their dead attempts at a DOH cram-down). I am sure that if things had gone their way, they would be making yet another public spectacle of themselves.

Wasn't CIRP last activated when the paint color on the PieMount airplane wasn't the correct shade?

No, you're thinking about the near meltdown when you guys thought you would lose that wonderful call sign. I heard the lines were long.

I wonder how much more negotiating USAPA/LCC/AMR will require.

So much for Bob Crandall's opinion on a pre-merger SLI mandate.

I thought they were all working it out together. The APA release sounds like they finished it and passed it on to USAPA. I may be taking it wrong.

It will be interesting to see if there is anything about seniority in it.