Recently, there have been media reports concerning the pilots’ receipt of payments stemming from one of their retirement plans, which was terminated in the bankruptcy process. This plan is referred to as the "Pilot Plan B" by the Allied Pilots Association (APA). Since the "Pilot Plan B" was terminated, the assets of the plan were distributed to the participants. As a distribution option, pilots could elect to rollover their account balances to their 401(k) account or an IRA account. Apparently, some financial institutions have experienced issues processing the direct deposit distributions to the IRA accounts that were specified by individual pilots. The company is working with the affected pilots to help them resolve their individual issues. read more...
Equity Distribution – W9 Forms
Dear Brothers & Sisters:
American Airlines has begun to open Computershare accounts for employees who may be eligible to participate in the upcoming equity distribution so they can submit IRS W-9 forms to certify that they are not subject to “back-up withholding”. As is explained in the bulletin posted on the www.twubkfacts.org, completion of these forms is necessary for employees to avoid income tax withholding in addition to the normal income tax and FICA tax withholding. Most employees are not subject to backup withholding. Generally people who are subject to backup withholding are those who have been notified of that because of past failure to report all interest or dividends. We understand that people who are subject to backup withholding have been notified of that obligation by the IRS. In some cases, people who were subject to backup withholding have been notified that they are no longer subject to backup withholding. read more...
Brothers & Sisters,
I wanted to give you a short update on the AMR Bankruptcy.
The voting deadline for creditors on the Plan of Reorganization ended yesterday and those votes will be counted and verified in the next day or two.
We’ll know the unofficial results in the next few days, but the actual court filing is due by August 9. Once filed, the confirmation hearing will go forward as scheduled for August 15th (which will approve the POR and begin the process to exit bankruptcy). The actual exit date is expected to occur by the end of October, if not earlier, and that date should trigger the 4.3 percent pay raise to our members. read more...
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.