What's going on at AMR?

[superfly]

They posted huge losses again, that makes a total of like 5 billion in losses over the last 2 years. At this rate are they going to file for bankrupcy protection soon just to stay competitive?

I can imagine there asking for wage cuts all around, don't forget to turn the lights out when you leave your office.

What's the furlough situation like? I rember hearing 6 months ago that all pilots whould be back on property by 2004. It looks to me like that was a little optimistic.

I have friends at AMR and would someday like to work there if ever granted the opportunity.

 

[jetexas]

looks like AMR is in deep Kimchee

 

[eaglefly]

In a nutshell, Carty gets agreement to BIG pay/work rule/pension changes from ALL mainline labor groups-or- Carty uses the Bankruptcy process to get it anyway.

Mid-April by the latest.

 

[Fast Eddie]

What we are witnessing is the clock being reset
about 10-15 years in terms of pay and contract
conditions(and that might be optimistic). with King george
on the throne and a bunch of politically appointed bankrupcy
court judges ,heaven only knows how bad things will get?
Anyone thats on the last 30% -50% of the seniotity lists at
UAL, AMR and Delta might want to start sending apps out to
SWA, ATA, JB, etc,

 

[CaptWidgeon]

Does anyone have any approx. hire dates as far as where they are with furloughs at AA? And how deep it's looking like they may go? And how does/did the merger of the TWA pilot list fit with the AA list? Is the majority of TWA in the bottom 1/3, middle, spread out?

Thank you Herb and family for SWA!

 

[md8pilot]

Stapled

Approximately 1200 TWA pilots were stapled and are bearing the brunt of the furloughs at AA. Current furloughees have 7 years seniority with TWA. AA did furlough a few hundred pilots hired after the TWA acquisition. Beyond these, no "native" AA pilots have been furloughed.

 

[pylut]

Twa pilots screwed!

The TWA pilots are getting hosed big time. In Feb, seven year guys will be hitting the streets while 1 1/2 year sky nazis take there seat in TWA metal.

 

[rice]

Amen!!!

Three friends now out of work or soon to be. Real nice move on the part of AA. That staple was one of the cruelest moves I've seen in this business.

 

[Lumber Yak]

I read that AMR currently has $18-19 billion (that's billion with a "b") in debt and only $700 million worth of aircraft to mortgage (access to more cash) remaining... I wouldn't want to be the CFO for AMR - very difficult debt service... It doesn't help that gas prices KEEP RISING... Yikes!

AMR may be renamed "RIP" in the future... I'd say bankruptcy is very likely if we go to war with Iraq...


Good luck to all involved!

 

[Sleepyhead]

Back in Nov I remember reading several people say
"if UAL files BK, AMR will follow in several months"

Looks like that prediction is coming true.