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Nic Award Update?
Not trying to start a fire, but has the entire Nic Award (America West pilots integration and binding arbitration) situation been worked out? Haven't heard much lately about it. Can we assume that something has been worked out for this agreement to happen - or will they wait to work it out later like at UAL/CAL?
Not trying to start a fire, but has the entire Nic Award (America West pilots integration and binding arbitration) situation been worked out? Haven't heard much lately about it. Can we assume that something has been worked out for this agreement to happen - or will they wait to work it out later like at UAL/CAL?
Really?? Can we have one day of good news without starting a fire??
cbrown1
Well-known member
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- Jul 14, 2005
- Posts
- 492
The integration won't even be talked about till after the JCBA.
The problem was solved a long time ago. Now with a single CBA the West pilots case is ripe. The NIC will be the list US Airways presents for arbitration with APA.
The US AIR-AMerican Integration won't be talked about. The US AIR AMerica West integration is about to be completed. Stay tuned....
The Drizzle
I is a Airline Pilot!
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it never ********************ing fails.
5ontheglide
The years of the Eer's!
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weasel_lips
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AMR, US Airways Boards Separately Approve Merger Deal
By MIKE SPECTOR and SUSAN CAREY
The boards of American Airlines parent AMR Corp. AAMRQ +3.59% and US Airways Group Inc. LCC +2.73% late Wednesday separately voted to approve a merger that would create the world's largest airline, said people familiar with the matter.
The merger will be formally announced early Thursday morning, and a so-called plan support agreement outlining all of the deal's details is set to be filed the same day with the U.S. Bankruptcy Court in New York overseeing American's reorganization, the people said.
Timeline: A Long Courtship
See a timeline of key dates in AMR Corp.'s history and its talks with US Airways.
View Interactive
Under the all-stock deal's terms, American's creditors would own 72% of the combined airline, and US Airways shareholders the balance. US Airways Chief Executive Doug Parker will run the combined company as chief executive. AMR CEO Tom Horton will serve as nonexecutive board chairman, likely until the spring or summer of 2014, the time of the new company's first annual meeting after American emerges from bankruptcy protection, the people said.
The airline will likely have a market capitalization exceeding $10 billion, and the value could approach $11 billion, the people said. The new board will have 12 directors, one of the people said. American's creditors will appoint five directors, American will appoint three and US Airways four, this person said. The number of directors will fall to 11 when Mr. Horton departs as chairman, this person said.
The deal would serve as the reorganization plan taking American out of bankruptcy proceedings, where it has been since November 2011. In addition to the blessing of a bankruptcy judge, the deal needs clearance from antitrust regulators at the U.S. Justice Department and elsewhere, which could take a few months. Only with all of those green lights would American be able exit Chapter 11 bankruptcy protection.
AMR's creditors could be repaid nearly all their debts in the merger reorganization plan and AMR's existing common shareholders are expected to get some kind of financial recovery at some point as part of the merger, some of the people said. AMR's common stock continues to trade, but is expected to be extinguished once the company issues new shares in the combined entity.
The airlines met at the New York offices of their respective legal advisers in midtown Manhattan Wednesday afternoon, at times concurrently. American's board met at the offices of law firm Weil, Gotshal & Manges LLP, while US Airways' board met at law firm Latham & Watkins LLP.
By MIKE SPECTOR and SUSAN CAREY
The boards of American Airlines parent AMR Corp. AAMRQ +3.59% and US Airways Group Inc. LCC +2.73% late Wednesday separately voted to approve a merger that would create the world's largest airline, said people familiar with the matter.
The merger will be formally announced early Thursday morning, and a so-called plan support agreement outlining all of the deal's details is set to be filed the same day with the U.S. Bankruptcy Court in New York overseeing American's reorganization, the people said.
Timeline: A Long Courtship
See a timeline of key dates in AMR Corp.'s history and its talks with US Airways.
View Interactive
Under the all-stock deal's terms, American's creditors would own 72% of the combined airline, and US Airways shareholders the balance. US Airways Chief Executive Doug Parker will run the combined company as chief executive. AMR CEO Tom Horton will serve as nonexecutive board chairman, likely until the spring or summer of 2014, the time of the new company's first annual meeting after American emerges from bankruptcy protection, the people said.
The airline will likely have a market capitalization exceeding $10 billion, and the value could approach $11 billion, the people said. The new board will have 12 directors, one of the people said. American's creditors will appoint five directors, American will appoint three and US Airways four, this person said. The number of directors will fall to 11 when Mr. Horton departs as chairman, this person said.
The deal would serve as the reorganization plan taking American out of bankruptcy proceedings, where it has been since November 2011. In addition to the blessing of a bankruptcy judge, the deal needs clearance from antitrust regulators at the U.S. Justice Department and elsewhere, which could take a few months. Only with all of those green lights would American be able exit Chapter 11 bankruptcy protection.
AMR's creditors could be repaid nearly all their debts in the merger reorganization plan and AMR's existing common shareholders are expected to get some kind of financial recovery at some point as part of the merger, some of the people said. AMR's common stock continues to trade, but is expected to be extinguished once the company issues new shares in the combined entity.
The airlines met at the New York offices of their respective legal advisers in midtown Manhattan Wednesday afternoon, at times concurrently. American's board met at the offices of law firm Weil, Gotshal & Manges LLP, while US Airways' board met at law firm Latham & Watkins LLP.
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