I'm an AA furloughee, so I can say this.
IMHO, we need to get rid of the A and B funds. We will not be able to compete if we don't. I say, the sooner the better.
Ironically, we might have been better off if we had declared bankruptcy back in the day. Without bankruptcy, it will be nearly impossible to lower employee costs and, thus, save the company. How in the world can we compete with Southwest, Jetblue, United, etc. if we have huge retirement costs and they don't?
The good ol' days are gone and the sooner we accept reality the better.
Here is what we really need - Growth Plan Two. Maybe we can recall Crandall. Employees bite the bullet with paycuts in exchange for growth. I would plan the growth phase to coincide with SWAs fuel hedges running out.
I would hire new employees on b-scale wages. Even at b-scale wages, American could still hire lots of top-notch folks. Don't believe me? Look how many folks are trying to get hired by the discount airlines right now. If the pay was the same, I would rather work for American than Virgin American.
It was a bitter pill at the time, but the original Growth Plan made American the largest airline in the world. It also made a lot of Captains. No one would complain about paycuts if they knew they could move up in seniority.
We have been playing defense long enough. We need a strategic plan to get out of this mess. We also need to consolidate with someone, maybe British Airways. In short, we need some innovative thinking. Just asking for paycuts over and over is not an effective strategy.