Some Retired Pilots May Become Creditors In AA Chapter 11 Filing | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne Unlimited-11-12-18

Airborne Unmanned-11-13-18

Airborne Unlimited-11.14.18

AMA Drone Report-11.15.18

Airborne Unlimited-11.16.18

Airborne-YouTube

Airborne Unlimited-11-12-18

Airborne Unmanned-11-13-18

Airborne Unlimited-11.14.18

AMA Drone Report-11.15.18

Airborne Unlimited-11.16.18

Wed, Nov 30, 2011

Some Retired Pilots May Become Creditors In AA Chapter 11 Filing

About 15 Airplanes Expected To Be Parked Indefinitely

An e-mail forwarded to ANN Tuesday indicates that the 67 pilots who retired from American Airlines in November have suddenly become creditors in the airlines' Chapter 11 filing announced Tuesday morning.

In the internal communications between pilots, ANN has learned that new CEO Tom Horton contacted APA President Capt. David Bates (pictured below) to say the airline plans to park about 15 aircraft ... mostly B767-200s and 757s ... as the result of the filing. Capt. John Hale, VP for Flight Operations for AA, also called Capt. Bates to say base closings could be expected next year at Washington Regan National Airport, Boston's Logan International, Lambert Field in St. Louis, and San Francisco International.

The e-mail goes on to say that while the lump sum checks distributed to AA pilots who retired in October are "viable" under their defined benefit plan, the 67 pilots who retired in November have become creditors to the airline, and will have to get in line in bankruptcy court with other creditors to receive all, or some portion of the payments they were promised. Our source says that one of the reasons AMR filed on Tuesday was to "preempt any mass exodus in December."

Our source, an American pilot who has already retired, goes on to say that the conversation between Capt's Bates and Hale turned to what was described as, "threats against employees if any action was taken."

In a posting on the public portion of the Allied Pilots Association website, Capt. Bates said "While today’s (Tuesday's) news was not entirely unexpected, it is nevertheless disappointing that we find ourselves working for an airline that has lost its way. In 2003 American Airlines’ pilots provided management with significant cost savings that were characterized as essential to avoiding bankruptcy at that time. We agreed to sacrifice based on the expectation that our airline would regain its leadership position. What has transpired since has been nothing short of a “perfect storm.” During restructuring, we must bargain effectively under duress and implement a plan that highlights our pilots’ leadership and participation. Our goal must be to build working relationships with other creditors and investors to position our airline for a better future."

FMI: www.alliedpilots.org

Advertisement

More News

Airborne 11.16.18: GAMA 3Q/18 Report, Virgin Orbit, Lawyers v Drones

Also: Hugh Oldham Retirement, UFO Sightings, Pilots Question 737 MAX Training, Air Combat Command GAMA has published its 2018 third quarter aircraft shipments and billings report. >[...]

Aero-Help Wanted: ANN REALLY Needs A Sales Pro

ANN/Airborne/Aero-TV Marketing Department Needs Part or Full Time Personnel E-I-C Note: For some reason, finding really motivated/honest/professional sales help has been a tough gi>[...]

Airborne-Unmanned 11.13.18: Parrot AG Solution, Kratos Expands, Precisionhawk

Also: ERAU Certified, AeroVironment Award, International Brain-Drone Race, Relmatech's Direct Broadcast Platform European drone group Parrot has introduced Bluegrass Fields, an end>[...]

AMA Drone Report 11.15.18: Hover 2!, Tello EDU Drone, ULC Attack

Also: UAS Waiver Report, Japan Document Delivery, Fluidity's FT Aviator, Lithium Metal Ion Batteries Zero Zero Robotics has released early details for their new 4K capable Hover 2,>[...]

Airborne 11.16.18: GAMA 3Q/18 Report, Virgin Orbit, Lawyers v Drones

Also: Hugh Oldham Retirement, UFO Sightings, Pilots Question 737 MAX Training, Air Combat Command GAMA has published its 2018 third quarter aircraft shipments and billings report. >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC