Rekks Inbound
Well-known member
- Joined
- Sep 15, 2004
- Posts
- 1,517
Excuse me , that was not a "purchase" or "merge" your company had to pay to play....
Airways sucked a fee out of your company just to let you have the 'privilege" to fly for them....
This "investment" gave new meaning to the term outsourcing a contract carrier!
Uh, actually, no. AWA was so desparate for cash to emerge from CH11 that they accepted $125 Million from AWAC to finance their emergence from CH11 and that in exchange for that AWAC was able to place 70 aircraft in service for USAirways until 2015 as well as stock options (which our owners have made a mint on) and a seat on the BOD of AWA.
You are correct, however in that it created the term 'pay to play'. The point of DD's original post is that the $125M was OUR (the pilots) money culled fom concessions while we flew for UAL, that said money was used to finance AWA's emerence from BK, and that we had NO SAY in how it was used, hence what about our rights and expectations in all of this, since it was OUR money!
Peace.
Rekks
PS. BtoB, you are an ass.