>>EAL weny under thanks to the IAM and ALPA. Col.Borman was forced by these unions to go to Frank Lorenzo.Then,only then did CAL milk,rape and destroy EAL.<<
That's a politically incorrect version of the events, but so very true...
And Hank Duffy, a Delta captain, was leading the ALPA cheers from the sidelines. "Hold the line brother..." At least Randy Babbitt got a job out of the deal.
It is supreme irony to see UAL on their knees begging for a government bailout after they argued so forcefully against help for Pan Am a decade ago.
The ERP II document is geared totally toward getting the ATSB bailout, in fact it is void if the bailout doesn't come. "The commitments in this letter shall not become effective except upon the funding the ATSB loan." it says.
If UAL gets the ATSB bailout but still goes chapter 11, UAL agrees not to try to void the contract for at least a year. However, there is more than a little wiggle room in the line that says "...In the event of a war in Iraq or a sudden, unforeseen event that substantially disrupts air travel (e.g., an act of God, act or threat of terrorism, war or government sanction), the commitment contained in the preceding paragraph will become null and void in its entirety..."
This late in the game, anything is worth a try...