I'll answer for myself: Yes my money was used. I had 1/4 of my 401K in AWA stock. By the time the announcement was made I couldn't jump ship. The stock price for the new company opened at $19.50. It SAILED up to $60 a share. I jumped ship (like many of the large investors) North of $50.00 (better to be lucky vs. smart sometimes).
BTW, you may have forgotten the following events (after 9/11): AWA was the FIRST MAJOR AIRLINE to bring back ALL furloughed pilots. AWA was the FIRST MAJOR AIRLINE to start hiring off the streets (we hired a bunch of AAA furloughees, and a couple that just plain QUIT AAA for the cesspool that had become). AWA was the FIRST MAJOR AIRLINE to negotiate a post-9/11 contract (and we did that in less than 3 years), and frankly at the time (2004) the wages weren't too bad.
AAA had/has some value, but not as much as the USAPIAN faithful seem to think they do. Had the USAPIAN faithful not taken us on this ride, we would have had a new and better contract for all of us, AND now be negotiating a SECOND post-merger contract. The ONLY reason that we are in this crap is because one group fails to accept a final & binding seniority integration and the smaller group is FORCED to defend our position (while helping you fellas pay for the attack on us).
Have a Merry Christmas, Charlie. Maybe the new year will bring an end to this nonsense, it is the season of miracles after all.
Hi CB,
I am not a financial consultant but I would never invest money in the corporation I work for because if the company goes out of business I will lose my income and my investment. Sir I suggest you DIVEST.
You say US Airways had some value? Seriously? We were about to be Ch 7. That's 7. Do you know what Ch 7 is? I do. We had NO value at all and you Sir bought us...OOPS. Should have invested in mutual funds or Coca Cola. You bought us and now you have to wait many years to get your justice...bad investiment. In the future don't ever expect a bunch of old experienced pilots to accept being your FO's...integrtiy, binding blah, blah, blah.