Wednesday May 23, 2012

JAPAN NEWS AND DISCUSSION

American Airlines files for bankruptcy protection

Business Nov. 30, 2011 - 06:45AM JST ( 8 )

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8 Comments

-1

NetNinjaNov. 30, 2011 - 08:06AM JST

I find it very odd that American Airlines recently announced a bid to purchase more AEROplanes and now they declare bankruptcy.

In fact, a lot of their recent moves have been somewhat peculiar in retrospect. One World with JAL. Sharing lounges with JAL (Another Bankrupt Airline).

Well hopefully AA will survive this. I feel sorry for the pilots. Losing your pension, man that hurts. Ground the whole fleet if you have to.

If it really is about the fuel surcharges then I guess the world will have to come to a screeching halt before it recognizes the need to develop energy in order to keep the world flying.
0

globalwatcherNov. 30, 2011 - 08:37AM JST

This is very sad, however this is a chapter 11 bankruptcy. The court will appoint a trustee and all finances will be monitored by the court until they get back to normal.

Hope the pension fund of American airlines employees has been placed under ERISA. protection. I am sorry everyone with AA has to go through this, but AA has no other choice in order to protect the cashflow. Bad timing, but shooganai.
5

MaboDofuIsSpicyNov. 30, 2011 - 09:12AM JST

>

Bankruptcy filings allowed American’s competitors to shed costly labor contracts

See how they get around unions?
5

pawatanNov. 30, 2011 - 09:38AM JST

See how they get around unions?

You have hit the nail EXACTLY on the head as to why this is happening. Fuel charges are a smokescreen; they already charge us extra for fuel, and that amount goes up and down as fuel prices rise and fall.

Just another power play by management to crush the unions, that's all. Watch them turn around and ask for "loans" from the US government to "help them through these difficult times".
1

YuriOtaniNov. 30, 2011 - 09:41AM JST

MaboDofuIsSpicy, the judge will null and void those agreements.
1

globalwatcherNov. 30, 2011 - 10:58AM JST

Yuri, the truth of matter is that a district judge and a trustee have to follow certain guidelines of federal labor law.
1

WeaselNov. 30, 2011 - 11:01AM JST

A court approved tactic (albeit a nuclear option of a tactic) to bust a union, and to rewrite the terms of the retirees / legacy employee's pension and medical benefits. However in uncharacteristic act of altruism, AA was sure quick to point out that the airline miles customers had earned won't be impacted.
1

SerranoNov. 30, 2011 - 10:08PM JST

"high fuel prices"

Maybe the Saudis and the Iraqis can pump more oil and cut prices, lol.