PPRuNe Forums - View Single Post - AMR Corp files bankruptcy in New York
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Old 3rd Dec 2011, 21:20
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SKS777FLYER
 
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No news yet about retiree medical, tho I would think the cost will go up dramatically in the months ahead. I don't know about other U.S. Carriers, but AMR was self-funded for covering employee medical expenses; they just hire medical insurance group management help to administer the program.
As for the stock options from the distant past, I sold my options before the stock split, and before Trump ran the stock up to around $140 as it was thought he was going for a hostile takeover attempt. The pilot union was pleading with Crandall not to sell the airline, and of course he did not. At the peak, Crandall had control of north of $125 MILLION of AMR stock, tho some of it may have been restricted, whatever, the pilots depended on the hated Crandall and the AMR BOD to save the airline from Trump, which they did.
The option grants had I dimly recollect had life of about 10 years so I would think they have long expired anyhow.
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