Office of the President 7.20.12
Dear APFA Member,
Today, the APFA Executive Committee passed a resolution to send the company’s Last Best and Final Offer (LBFO) to the membership for a vote. Although not a tentative agreement, this LBFO represents the absolute best terms our negotiating team was able to achieve during Section 1113 negotiations. The terms of the LBFO, which will be published on the website and mailed to you shortly, contains substantial improvements over AA’s Section 1113 term sheet.
In an effort to circulate as much information as possible regarding this LBFO, the negotiating team and I, along with our professionals, will be visiting each base beginning July 25th. We will also be posting an analysis of the offer, a side-by-side comparison of AA’s LBFO and the March 22nd Section 1113 term sheet, and other information as well.
I would like to commend the tremendous efforts of the APFA Negotiating Team. As you know, they have been working for more than four years to achieve an agreement and were very close to providing improvements when their efforts were halted last November by AA’s bankruptcy filing. This team was then given the unenviable task of negotiating on the Section 1113 timetable with those awful terms hanging over them. Though it is far from the agreement they wanted, given the circumstances, their efforts were extraordinary and I am proud to be associated with them.
As always, please visit the APFA web site for the most current information, including dates and times for the upcoming road shows.
Thank you for all that you do and for your continued professionalism.