Hello. This is George Price, APFA National Communications Coordinator, with an APFA Hotline Update.
The APFA Board of Directors voted today to accept an improved proposal from AMR Corporation that would keep the company from filing for bankruptcy. More details of the agreement will be included on this hotline and the APFA Web site as they become available.
Please call the hotline later today for a special message from APFA President John Ward.
Hello. This is APFA National Communications Coordinator George Price with an APFA Hotline Update for Thursday, April 24, 2003.
The rumor mill is rampant. Here is what we know to be fact.
– AMR has not filed Chapter 11 at this time.
– We can confirm the departure of Don Carty from American Airlines.
– The AMR Board named Gerard Arpey as AMR CEO and Edward Brennan as the new Chairman of the AMR Board.
– As we previously reported on this HotLine, the APFA and the other unions met with the company and members of the Texas Congressional Delegation on April 23rd.
In successive meetings, APFA continued discussions with the company stressing our memberships concerns with the Restructuring Participation Agreement. They are:
– The duration,
– Lack of incentives,
– And, specific items our membership found more problematic than others.
We understand the other unions-APA and TWU-have indicated acceptance of the terms of this proposal and, at this time, the APFA has not indicated acceptance. APFA will continue to do everything possible to avoid Chapter 11 bankruptcy filing by AMR.
The situation remains very fluid. We will continue to keep you updated on this hotline and the web site. Please call frequently for updates.
This is George Price, APFA National Communications Coordinator, with an APFA Hotline Update for Thursday, April 24, 2003.
The APFA National Officers along with the officers of APA and TWU met with members of senior management and several members of the North Texas Congressional Delegation yesterday. The meeting was called by U.S. Representative Martin Frost to discuss the current state of affairs at American Airlines.
There are many reports in the news this morning speculating on what transpired during the course of the meeting. At this hour, the APFA Board is meeting via conference call. The APFA hotline will be updated once the APFA Board has been briefed and more information becomes available.
Please call back later for more details.