Hotline Update – November 30, 2011
This is APFA President Laura Glading with a Hotline Update for Wednesday November 30, 2011.
APFA was represented by counsel yesterday in NY where American was in court for the first day of bankruptcy hearings. The first day of hearings was standard procedure and included the court issuing orders that permit American to continue operating as a debtor in bankruptcy. In addition the court granted nearly all of the ‘first day motions’, which allows the company to continue to use its banking, cash management, and credit arrangements; to continue to hedge its fuel costs; and to pay its employees and vendors.
I’ve also sent a petition to the US Trustee seeking an appointment to the Creditor’s Committee representing APFA. The committee will be appointed at a meeting this coming Monday.
The majority of today was spent briefing the APFA Board of Directors and Executive Committee. Our attorneys participated in the discussion and were available to answer the Board’s questions and to address some of the concerns you’ve shared with them.
The Bankruptcy section of APFA.org will continue to be updated as information comes in and as new questions arise.
We are preparing a Skyword Express that will be sent to all Flight Attendants very soon.
This is a very difficult time for all of us. We are working diligently to protect our interests leaving no stone unturned. I promise you that we will continue to keep you fully informed, and we will be fighting for you every step of the way.