Dear Brothers & Sisters:
Your TWU Equity Committee met yesterday to begin discussions on how the 4.8% equity stake will be distributed to eligible TWU members at American Airlines. The Committee, with the assistance of financial advisors and legal experts, will ensure the plan of distribution is equitable and maximizes the value for TWU members.
The form of equity distribution (stock or cash) has not been determined as of this date. We anticipate the distribution will begin around the time that American exits bankruptcy. read more...
Earlier this week, important filings were made with the Securities and Exchange Commission (SEC) with required information regarding our proposed merger and the Bankruptcy Court for American’s Chapter 11 bankruptcy process. These filings contain material information about our combination and are a major milestone in the merger process. With them behind us, we are now one step closer to merging American and US Airways! Here’s an overview of what was filed: read more...
In April 2003, stock options were granted to all of American's employees at an exercise price of $5.00 per share, and with a ten-year term. The options irrevocably expire on April 17, 2013, and cannot be exercised after that date.
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September 24, 2013
The Court conducted the thirty-sixth omnibus hearing today. The main item on the agenda was a pretrial conference in the case of Fjord v. AMR Corporation, Adv. Pro. No. 13-1392. The plaintiffs in this action allege antitrust violations under section 7 of the Clayton Act. This is a separate action from the one brought by the Department of Justice and the Attorneys General pending in the District Court in Washington D.C.. After extensive argument the Court determined that the District Court action should be heard and determined first, with this private action proceeding after the District Court has rendered a ruling. In the event of a settlement of the District Court action, the parties are to return to the Bankruptcy Court to discuss scheduling.
October 02, 2013
Transport Workers Seek a Seat at the Table in US Airways/American Airlines Merger Case
Case will go forward despite government shutdown
Washington, DC - Oct 2, 2013 – The Transport Workers Union has taken legal action in federal court to protect the jobs, pay and benefits of its members, TWU President Harry Lombardo said today.
The TWU, Lombardo said, is seeking intervenor status in a lawsuit filed by the U.S. Department of Justice (DOJ) against the proposed merger of American Airlines and U.S. Airways. The case will go forward despite the current government shutdown, under terms of an order issued on Oct. 1 by U.S. District Judge Colleen Kollar-Kotelly.