February 13, 2013
What does the Merger announcement mean for our TWU members?
TWU work groups will continue to operate under the American Airlines collective bargaining agreements.
The Memorandum of Understanding (MOU) negotiated last month with American Airlines and US Airways will provide a wage increase of 4.3 percent over and above previously negotiated contract agreements for TWU represented crafts or classes, effective immediately upon the U.S. Bankruptcy Court approval of the merger and a plan of reorganization.
In addition, per the MOU, the equity grant and other contract settlement terms, as approved by the bankruptcy court, will be honored.
Download a PDF copy here.
February 11, 2013
QUESTION: The IBT has said, in a letter dated February 6, 2012, that “Under the Settlement Agreement that ended American Airlines’ concessionary negotiations with the TWU, American mechanics and related employees are to receive 4.8 percent of the total equity in American….that is allotted to a certain class of unsecured creditors.” They further state that “If the IBT replaces the TWU, the IBT will hold and distribute that equity stake….” Are the statements by IBT about the equity true?
February 08, 2013
(Reuters) AMR Corp (AAMRQ.PK) creditors plan to meet on Monday to potentially vote on a merger agreement between the bankrupt parent of American Airlines and US Airways Group Inc (LCC.N), several people familiar with the matter said.
The two airlines are working to finalize an agreement over the weekend so the board of each company could also meet to vote on the deal on February 11, the same day when AMR's unsecured creditors committee is scheduled to convene, the people said.
If the parties meet this potential timetable - as currently envisioned but seen as aggressive - a merger agreement could come as soon as Tuesday, the people said, asking not to be identified because the matter is not public.