Bankruptcy Exit Approved; Merger Contingent
09-12-2013, 08:15 AM
#1
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Bankruptcy Exit Approved; Merger Contingent
http://abcnews.go.com/m/story?id=20236385
A federal judge is approving American Airlines' plan to emerge from bankruptcy protection and merge with US Airways, although the airlines must still resolve their lawsuit with the federal government, which is trying to block the merger.
A trial over that lawsuit is scheduled for November.
Thursday's ruling by federal bankruptcy Judge Sean Lane in New York provides at least the perception that the merger is still moving forward.
The airlines had originally hoped to close the merger this month and create the world's biggest carrier. They're now shooting for the end of the year if they can settle the antitrust lawsuit or win it in court.
A federal judge is approving American Airlines' plan to emerge from bankruptcy protection and merge with US Airways, although the airlines must still resolve their lawsuit with the federal government, which is trying to block the merger.
A trial over that lawsuit is scheduled for November.
Thursday's ruling by federal bankruptcy Judge Sean Lane in New York provides at least the perception that the merger is still moving forward.
The airlines had originally hoped to close the merger this month and create the world's biggest carrier. They're now shooting for the end of the year if they can settle the antitrust lawsuit or win it in court.
Eric Holder.
09-12-2013, 08:27 AM
#3
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Joined APC: Apr 2012
Position: A320 FO
Posts: 140
Originally Posted by nwa757
http://abcnews.go.com/m/story?id=20236385
A federal judge is approving American Airlines' plan to emerge from bankruptcy protection and merge with US Airways, although the airlines must still resolve their lawsuit with the federal government, which is trying to block the merger.
A trial over that lawsuit is scheduled for November.
Thursday's ruling by federal bankruptcy Judge Sean Lane in New York provides at least the perception that the merger is still moving forward.
The airlines had originally hoped to close the merger this month and create the world's biggest carrier. They're now shooting for the end of the year if they can settle the antitrust lawsuit or win it in court.
A federal judge is approving American Airlines' plan to emerge from bankruptcy protection and merge with US Airways, although the airlines must still resolve their lawsuit with the federal government, which is trying to block the merger.
A trial over that lawsuit is scheduled for November.
Thursday's ruling by federal bankruptcy Judge Sean Lane in New York provides at least the perception that the merger is still moving forward.
The airlines had originally hoped to close the merger this month and create the world's biggest carrier. They're now shooting for the end of the year if they can settle the antitrust lawsuit or win it in court.
09-12-2013, 09:45 AM
#6
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Position: Captain: TransAmerican Airlines
Posts: 63
Originally Posted by Errbus
Wouldn't this mean today is the POR date? The MOU states approval of POR, which is what happened. Nothing to do with the DOJ or conditions. Shouldn't we get out retro pay, signing bonus, and new rates now?
From the MOU:
"3. Beginning on the effective date of the POR (the “Effective Date”), pilots employed by US Airways shall be paid in accordance with the provisions of the MTA that are generally applicable to pilots employed by New American Airlines."
PARTY FOUL!
09-12-2013, 09:50 AM
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Originally Posted by Errbus
Wouldn't this mean today is the POR date? The MOU states approval of POR, which is what happened. Nothing to do with the DOJ or conditions. Shouldn't we get out retro pay, signing bonus, and new rates now?
Originally Posted by buddies8
I would push the leadership in that direction.
09-12-2013, 09:57 AM
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Originally Posted by CptRexKramer
That would be nice, but I doubt the company is going to see it that way.
From the MOU:
"3. Beginning on the effective date of the POR (the “Effective Date”), pilots employed by US Airways shall be paid in accordance with the provisions of the MTA that are generally applicable to pilots employed by New American Airlines."
PARTY FOUL!
From the MOU:
"3. Beginning on the effective date of the POR (the “Effective Date”), pilots employed by US Airways shall be paid in accordance with the provisions of the MTA that are generally applicable to pilots employed by New American Airlines."
PARTY FOUL!
09-12-2013, 05:22 PM
#9
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Posts: 634
Originally Posted by Errbus
Wouldn't this mean today is the POR date? The MOU states approval of POR, which is what happened. Nothing to do with the DOJ or conditions. Shouldn't we get out retro pay, signing bonus, and new rates now?
09-12-2013, 08:36 PM
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Posts: 1,485
Originally Posted by Errbus
Wouldn't this mean today is the POR date? The MOU states approval of POR, which is what happened. Nothing to do with the DOJ or conditions. Shouldn't we get out retro pay, signing bonus, and new rates now?
NO, NO, NO.
I have no idea where people get this idea. It's been stated since day one that the POR is contingent upon all regulatory approvals. The day the deal is approved and Doug says we are now the New American is the effective date. No pay until the deal is done. The DOJ is still a big hurdle.
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