The TWU is working with the Transportation Trades Department, (TTD) AFL-CIO, to support bipartisan legislation (H.R. 2591), which would allow our members to defer taxes on the equity stake that we negotiated during the American Airlines bankruptcy process.
The legislation is sponsored by Rep. Michael G. Grimm (R., N.Y.), and co-sponsored by Rep. Tim Bishop (D-NY), Rep. Michael Burgess (R-TX), Rep. Peter DeFazio (D-OR), Richard Hanna (R-NY), Rep. Eddie Bernice Johnson (D-TX) and Rep. Peter Roskam (R-IL). read more...
On June 20, AMR mailed copies of their Plan of Reorganization (POR) to all creditors, members of the Unsecured Creditors Committee, and all individual owners of AMR stock. The purpose of the mailing is to provide recipients the opportunity to review the POR and vote on it.
Those of us that held AMR Stock Options, originally granted in 2003, do not qualify to vote because those stock options expired on April 17th, 2013. If you purchased AMR stock on your own, you should receive information to cast a vote for or against the POR.
The current owners of AMR Stock bought them as a personal investment decision, and how they cast their vote is a personal decision. Therefore, we should not provide advice on how they vote regarding the POR. However, as a member of the Unsecured Creditors Committee, the TWU did vote to accept the POR. read more...
Dear Brothers & Sisters:
The TWU Equity Distribution Committee met on July 2, 2013 at the ATD office in Hurst, Texas to review the draft Power Point presentation (attached) as presented by your TWU Equity Distribution Committee, legal counsel and professional advisors.
We discussed, in detail, the many comments and suggestions received from the TWU membership, while visiting the various stations on the Equity Distribution Road Show. Your Committee will continue to review your feedback and suggestions. On July 16, 2013, the Committee will meet again to finalize the Plan and will then transmit directions to American Airlines regarding eligibility of members to participate in the distribution of the shares allotted to the TWU and regarding the percentage of shares to be provided to each eligible participant.
View Presentation 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.