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AA: Bankruptcy 2 Months Away  
User currently offlineQb001 From Canada, joined Apr 2000, 2053 posts, RR: 4
Posted (11 years 1 month 4 weeks 1 day 3 hours ago) and read 2415 times:

According to the Pilots Union.

http://biz.yahoo.com/ap/030226/american_airlines_bankruptcy_3.html


Never let the facts get in the way of a good theory.
12 replies: All unread, jump to last
 
User currently offlineTan flyr From United States of America, joined Aug 2000, 1897 posts, RR: 0
Reply 1, posted (11 years 1 month 4 weeks 1 day 2 hours ago) and read 2336 times:

This is not a surprrise. Lets hope that the Pilots and all other employee groups work diligently to finalize a solution that will stave off BK for AA. It's got to be better to negotiate your destiny than have a judge do it for you.

As a customer and an overall admirer of AA, I hope that everyone can come to a solution that puts the company in the best position possible for when Air travel rebounds. AA has the potential to really enlarge its global presence in the next 5-10 years. They just have to get thru this rough part.

As a side..great article in Tuesdays WSJ comparing UAl and CAL and the labor agreements. Sounds like most carriers will have to move very close to labor arrangments close to what CAL has.

I also sure this persistent ice/snow storms in Texas and the East hasn't helped AA either.

Good Luck to you AAers!


User currently offlineBlink182 From Azerbaijan, joined Oct 1999, 5478 posts, RR: 15
Reply 2, posted (11 years 1 month 4 weeks 1 day 1 hour ago) and read 2172 times:

The news was saying that yesterday AA had nearly 50% of its flights out of DFW delayed. Supposedly inbound flights were not as badly affected. Today I have heard(so far) that delays are not expected to be that bad.

My question is what will happen if AA should go Bankrupt.

blink



Give me a break, I created this username when I was a kid...
User currently offlinePothiabs From United States of America, joined May 2001, 114 posts, RR: 0
Reply 3, posted (11 years 1 month 4 weeks 1 day 1 hour ago) and read 2133 times:

Then OneWorld will not revolve around you anymore.

User currently offlineGKirk From UK - Scotland, joined Jun 2000, 24822 posts, RR: 56
Reply 4, posted (11 years 1 month 4 weeks ago) and read 1887 times:

Dunno....but hopefully they wont, as imagine the job losses if both AA AND UA were to die...  Sad
However, Im sure a few people on here would be more interested in who gets the LHR slots...



When you hear the noise of the Tartan Army Boys, we'll be coming down the road!
User currently offlineDC-10 Levo From United Kingdom, joined Nov 2001, 3432 posts, RR: 5
Reply 5, posted (11 years 1 month 4 weeks ago) and read 1881 times:

Wow, that's UA and AA that are supposedly going bankrupt. I hope they don't - It'll be a big shock if AA AND UA go.

DC-10


User currently offlineTrnsWrld From United States of America, joined May 1999, 891 posts, RR: 0
Reply 6, posted (11 years 1 month 3 weeks 6 days 23 hours ago) and read 1844 times:

DC-10 Levo,
Uhhh UAL did file for Bankruptcy quite a while ago. Where have you been??


User currently offlineUALPHLCS From , joined Dec 1969, posts, RR:
Reply 7, posted (11 years 1 month 3 weeks 6 days 21 hours ago) and read 1775 times:

This comes as no surpise to anyone except the media and those Carty-ites who think the guys Sh!t doesn't stink.

Fact is AA has been in trouble as long as UA has. AA has fought to hold on to the current buisness modle longer than UA has. The same model so many in here can't stand. They continue to be unresponsive to the new market and they have failed come up with anything innovative.

They have one of the most mixed fleets left in the industry. A weak alliance w/ BA because that was the poorer choice of partners in Europe. Thier staragey was to simply outlast UA. Now the chickens have come home to roost, UA is still around and the debt payments that forced UA into Chapter 11 in Dec. will have AA in bankruptcy in May.

For all of you AA lovers I pose this question: If AA is so well led, why did they not seek a solution to the upcoming debt payment in Dec. when they saw what it could do to UA? In other words why the wait?

Just so you know if AA does have to seek Chapter 11, I wish the employees the best of luck. I know the uncetainty and the worry that will grip you all. Tough times are ahead for all of us. My rant is more aimed at those in here and other forums on the web who held up Don Carty as the paragon of the airline industry. Those who quoted him, and other self-serving airline CEO's when arguing against UA's ASTB loan, ou all know who you are, you all thought those guys how to run a real airline. Now you find out that Carty and the rest are only trying to kill off competition so THEY DON'T have to fundementally change the way thier airlines do buisness.

Root for UA and US to stay afloat. IF they go down, the way airlines operate today will continue for the next ten years, and the consumer will be shafted because of it.


User currently offlineDC-10 Levo From United Kingdom, joined Nov 2001, 3432 posts, RR: 5
Reply 8, posted (11 years 1 month 3 weeks 6 days 21 hours ago) and read 1767 times:

"They filed for bankruptcy"

Does this mean they are bankrupt? I thought it meant that they are getting ready to go bankrupt.

DC-10


User currently offlineUA744Flagship From , joined Dec 1969, posts, RR:
Reply 9, posted (11 years 1 month 3 weeks 6 days 21 hours ago) and read 1749 times:

UAPHLCS: rock on, dude!

If things go right, UA and US will no longer be the dinosaurs of the industry. Instead, they will become the "lean and mean" model of network carriers.

Here's to the emergence of the Chapter 22 Alliance! (Perhaps once both emerge they should call the two the "Capital Alliance" or "Liberty Alliance" because of the strong nationalistic names -- even though United comes from airlines uniting, rather than the U of USA).

I hope United will stand, and with US Airways by its side.


User currently offlineUALPHLCS From , joined Dec 1969, posts, RR:
Reply 10, posted (11 years 1 month 3 weeks 6 days 21 hours ago) and read 1749 times:

US and UA have filed for "Chapter 11 Bankruptcy Protection"

This is a first step, one that companies can move out of. The Comany is saying "We can not afford to pay our creditors, before they forclose we want the courts to protect us"

The Bankruptcy Court then has to look at the books and the recovery plans and the creditors get a voice at the table and the judge works things out. If the Company is succesfull they can pull through and emege from Chapter 11. All the creditors get paid and the Company survives. CO has emerged twice HP once and are still flying.

If they fail they file for Chapter 7 wich liquidates the Company all assets are sold and the money goes to the creditors. A la Eastern PanAm and most recently National.


User currently offlineDC-10 Levo From United Kingdom, joined Nov 2001, 3432 posts, RR: 5
Reply 11, posted (11 years 1 month 3 weeks 6 days 20 hours ago) and read 1713 times:

Thanks for that UALPHLPS!

DC-10


User currently offlineAIR757200 From United States of America, joined Jul 2000, 1579 posts, RR: 7
Reply 12, posted (11 years 1 month 3 weeks 6 days 20 hours ago) and read 1699 times:

Blink182,

The delays were solely weather related. Just a few couple of cancellations today, mainly O.S.O.-recovery.


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