NWA, Mechanics Exchange Words | 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-Unlimited-07.07.25

Airborne-NextGen-07.08.25

AirborneUnlimited-07.09.25

Airborne-AffordableFlyers-06.26.25

AirborneUnlimited-06.27.25

Sun, Aug 03, 2003

NWA, Mechanics Exchange Words

Northwest Mechanics Call Airline's Decision Not to Repay $226 Million Debt to Employees Unfair

Aircraft Mechanics Fraternal Association (AMFA) Local 33, serving Northwest and Mesaba Airlines, called today's decision by Northwest's board of directors not to repay a $226 million debt to employees unfair.

Northwest earlier announced that its board would vote on August 1 on repurchasing shares distributed in 1993 to employees in exchange for wage and benefit concessions. "The 1993 agreement was tantamount to a 10-year, interest-free loan by employees to the company," according to AMFA Local 33 President Jim Atkinson.

"The board's decision not to repay this good-faith loan, and to force employees to hold onto the stock instead, is unfair. Northwest's board had no problem approving management bonuses, stock options and even 'phantom stock' worth many millions of dollars, but when it comes to repaying a long-standing debt to employees, they suddenly plead poverty. To our knowledge, nothing in the law prevents Northwest from repaying this debt; Northwest has simply chosen not to do so," Atkinson said. "It's harder to maintain morale when executives seem more concerned with feathering their own nest than with the welfare of the airline and its employees. We have people who are laid off and were counting on this repayment money."

FMI: www.nwa.com

Advertisement

More News

KidVenture Educational Activities Lineup At EAA AirVenture 2025

Youth Explore With Hands-On Builds, RC Airplanes, Flight Sims, Much More KidVenture is located just north of the EAA Aviation Museum, at Pioneer Airport, and has arranged a myriad >[...]

Aero-News: Quote of the Day (07.07.25)

“About nine decades ago, Amelia Earhart was recruited to Purdue, and the university president later worked with her to prepare an aircraft for her historic flight around the >[...]

Airborne 07.07.25: Sully v Bedford, RAF Vandalism, Discovery Moving?

Also: New Amelia Search, B737 Flap Falls Off, SUN ‘n FUN Unveiling, F-16 Record Captain Sully Sullenberger, the pilot who saved 155 people by safely landing an A320 in the Hu>[...]

Aero-News: Quote of the Day (07.08.25)

"It is critically important for North American flight safety that Temporary Flight Restriction (TFR) violations are avoided. All pilots must familiarize themselves with updates to >[...]

Airborne-NextGen 07.08.25: Joby in Dubai, Army Electra, Archer iin Abu Dhabi

Also: Hackers v Aviation, Discovery Moving?, Gogo Galileo HDX, EVE to Costa Rica Joby Aviation announced its electric air taxi successfully completed a series of VTOL wingborne tri>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC