AA Bankruptcy and AMR Merger
Here is a transcript of the mornings posts (more will be posted as it is available)
8:20am “A merger w/ @USAirways is the path we must take,” AA Flight Attendants Union Pres Laura Glading said at NY rally. “Get this merger done!”
@AmericanAir Union Leader at rally in NYC: “We will not stand by and let the judiciary gut our families.”
@AmericanAir union wrkrs in NY chanting: “AA got bailed out. We got sold out.” Referencing concessions keeping AA out of bankruptcy in 2003.
9:11am AA BANKRUPTCY: TWU agreed to send @AmericanAir’s last offer to membership for a vote. Tally not known until next wk.
9:11am Just got inside the NY Bankruptcy court. Courtroom is packed. Two overflow rooms w/ TV of proceedings are jammed as well.
9:33am AA BANKRUPTCY: Why is NYC hearing a big deal? Almost $1B in cuts on the line including 13K jobs. @AmericanAir is 1 of largest DFW emplyrs.
9:58am AA BANKRUPTCY: @AmericanAir atty says management earns “below market” salaries while union employees earn above market pay.
10:32am AA BANKRUPTCY: Pilots Union atty: “How we got here is more in the company’s declarations than Mr. Gallagher’s (AA Atty) presentation.”
10:32am AA BANKRUPTCY: Pilots union atty says @AmericanAir pilots took 23% pay decrease in 2003. That’s 1992 levels.
10:35am AA BANKRUPTCY: Pilots union atty tells NYC judge that labor has been betrayed with @AmericanAir executive bonuses & compensation.
10:50am AA BANKRUPTCY: @AmericanAir pilots union atty expects AA to merge post-bankruptcy. Unions suggest do it now and save jobs.
10:55am AA BANKRUPTCY: Atty for flight attendants giving opening now. Says avg age for @AmericanAir FA is 51. Avg salary is $45K .
10:57am AA BANKRUPTCY: Flight attendants atty says labor went through ‘bankruptcy’ in 2003 – it was out of court. We gave AA exactly what it needed.
1:18pm DEVELOPING: @AmericanAir says it offered TWU ground workers new offer that will save “substantial # of jobs.” Membership now voting on it.
1:20pm AA BANKRUPTCY: Attorneys representing all six sides (unions, airline, pension org, and unsecured creditors) finished opening statements.
1:20pm AA BANKRUPTCY: Airline now calling 1st of its 12 witnesses. It’s an analyst detailing @AmericanAir’s performance against competitors.
1:54am DEVELOPING: @AmericanAir quietly made a new offer to TWU ground workers that would save several thousand jobs. Wrkrs voting on it this wk.