Tue, Apr 15, 2003
is strongly hinted in the industry, AMR Corp (parent of American
Airlines) files Chapter 11 bankruptcy today, it should have at
least its financing ready to fly.
If any of the airline' three main unions -- pilots, flight
attendants, and mechanics -- doesn't ratify the deal the union
bosses have tentatively agreed to, the airline would likely head
for Court protection, following US Airways (which has since emerged
from Chapter 11), United, and Hawaiian (not to mention world's #9,
Air Canada, which is under Canadian court protection). The votes'
results are due at 11AM Tuesday
If a Chapter 11 filing is the corporate option of choice, AMR
would need a line on cash; and it appears there's a billion and a
half dollars' waiting, if needed.
The Billion and a Half Deal would come from Citibank, with
partners CIT Group Inc., J.P. Morgan Chase & Co Inc., and
Merrill Lynch & Co Inc, according to a Reuters story.
unions all agree, AMR could conceivably save $1.8 billion in labor
costs, which might -- if AMR makes other structural changes, and
the air-travel industry doesn't shut down completely -- be the
difference between having more US airline capacity operating in
Chapter 11, than out of it.
Garmin's New Aviation VHF Radios Early this year, a new series of aviation VHF COM and NAV/COM radios, the GTR and GNC series, was announced by Garmin. As the replacement products >[...]
Sign MoU With Diamond Aircraft On Electric Propulsion System EADS and Siemens are entering into a long-term research partnership to introduce new electric propulsion systems that c>[...]
The heights above the earth's surface of the lowest layer of clouds or obscuring phenomena that is reported as broken, overcast, or obscuration, and not classified as thin or parti>[...]
The Army Aviation Heritage Foundation The Army Aviation Heritage Foundation (AAHF) is a non-profit public educational foundation dedicated to presenting the Army Aviation story to >[...]
“The serial electric propulsion allows us to design airplanes with totally different characteristics than today. Vertical take-off and high-speed cruise can be realized in a >[...]