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 -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-OSHDay1-07.22.24

Airborne-OSHDay2-07.23.24

Airborne-OSHDay3-07.17.24

Airborne-OSHDay4-07.25.24

Airborne-OSHDay5-07.26.24

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 Oshkosh24 Day 4: Meet The Admin--NOT, MOSAIC For Osh25?, Med Logjam

07.25.24: King Schools Expansion, Avilution Update, Gogo Communicates!, Pelton Int'vw-Part 4 The annual Meet The Administrator event was not what we hoped for. The Administrator di>[...]

Airborne Oshkosh24 Day 4: Meet The Admin--NOT, MOSAIC For Osh25?, Med Logjam

07.25.24: King Schools Expansion, Avilution Update, Gogo Communicates!, Pelton Int'vw-Part 4 The annual Meet The Administrator event was not what we hoped for. The Administrator di>[...]

ANN's Daily Aero-Linx (07.23.24)

Aero Linx: United Flying Octogenarians Who are the United Flying Octogenarians (UFO)? We are an international group of more than 1700 pilots who have acted as a certificated PIC on>[...]

ANN FAQ: Contributing To Aero-TV

How To Get A Story On Aero-TV News/Feature Programming How do I submit a story idea or lead to Aero-TV? If you would like to submit a story idea or lead, please contact Jim Campbel>[...]

Airborne Oshkosh24 Day 2: Samson Sky, AbleFlight, MagniX, Hartzell

07.23.24: VerdeGo Powers Up, Frecce Tricolori, Pelton Int'vw - Part 2: MOSAIC!!!! They flew the Samson Sky earlier this year… and the data is yielding some exciting updates >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC