March 02, 2012
All title groups continued with the bankruptcy negotiations throughout this week. The goal is clear…mitigate the company’s TWU “ask” of over $390 million, including about 9,000 layoffs.
Your Negotiating Team leaders analyze the documents, data and business plans. The various experts retained by TWU, assist them as we bargain at a very rapid pace as required by law.
March 01, 2012
American Airlines wants to terminate the pensions of 130,000 workers as part of its bankruptcy proceeding. The move would be good for the company's balance sheet, but would it be good for America?
American's pension termination would be the largest in U.S. history. The airline wants to end the plans and turn them over to the Pension Benefit Guarantee Corp (PBGC), a government-sponsored agency that insures most private-sector defined-benefit pensions through premiums paid by plan sponsors.
Read the entire article here
February 27, 2012
AMR SAYS NO TO EARLY OUT AS DESIGNED
Late Friday AA presented its rationale for rejecting TWU’s proposal for an early out proposal. The Company asserts that the program as designed is too costly. However, AA indicated that it would still review such concepts during the entire 1113 process.
An early out program is essential for this reorganization and as such your TWU bargaining team will be pushing the matter throughout the negotiations. We consider such a mechanism to be very important in these difficult negotiations.