If a UK company goes into administration they have to advise of that at point of sale

I feel bad for the 1400 or whatever pilots they just hired for Eagle. It's a big shame too cause I'm sure this is like the 3rd or 4th furlough they've been through.

And if they actually get those 400+ new planes, I think I'll crap myself!

So AA can now operate at a serious loss in-and-out of LHR, undercutting everyone. How on any level if that fair competition?!

^^
Welcome to the airlines :(

Clevland HD

would you rather the company go completely `bust` and lose everything? AA have the heaviest larbour contracts in the USA and its crippling the airline - if they cannot restructure, i hope those said same unions can afford to pay the soon to be unemployed pilots and aircrew the wages they apparantly deserve......

Large fries:

Anyone who books after the filing has lots of protections. But, whether before or after filing, if payment is made with a credit card (most are) you are fully protected in any case.

@ Halloween exactly.. so why does this keep happening at airlines?

Few questions. Be grateful for answers.

1. What happens to the stockholders equity ? Is it all lost ? Had they already regarded their investments as gone ?

2. What happens to all the stock and stock options granted to the execs in recent years. Is that all lost for them ? Big loss for them ?

3. What happens to their slots at Heathrow ? This is the UK, outside US bankruptcy laws. If a carrier is bankrupt do the slots go back to the pool ? If not why not ? There will be a different company coming along; who says they just Grandfather the rights ?

That would be those lengthy sectors in the US with no catering provided, I presume. Remind me which "mainstream" world class carriers in other continents would dream of doing this ? And the attitude of the flight attendants, the highest paid and yet the worst attitude flight attendants in the world.

I can't imagine that the pilots contracts are the key issue here.

I suspect it's a catch all.

I would be interested to know what the implications are though.

Chapter 11 like a debt restructure. Stock is currently -80% to 33cents per share. Stock options / holdings all bombed out like wise. slots etc will still be operatiing if they have cash flow - which one suspects they do hence why they called time now.

WHBM I thought that Heathrow slots could be transferred to the 'corporate successor' of the holder, which is how American (and United) got theirs in the first place.

Silly me, I always associated bankrupcy with having no money... obviously thats where I have been going wrong

Halloween,

no, I don't want AA to go bust but I do want to see a sweep at the HQ. Bring people who can actualy run a business, not a bunch of losers who reward themselves for failure.

Note: I am surprised that the CEO did take responsability for the failure and moved on to let new blood bring new life to this airline.

here how you solve the pilots shortage in the middle-east and china!

It's easy to step aside when you've just been handed several million in severance.

MBAs
 

RE: Stupid pilots. If they wanted to make good money they should have gotten an MBA....

Please don't saddle the world with more MBAs. we have enough problems with the lot we have now!:ugh:

Originally Posted by clevlandHD

Quote:

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Note: I am surprised that the CEO did take responsability for the failure and moved on to let new blood bring new life to this airline.

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Steve Miller Band Take the Money and Run with Lyrics - YouTube

It's another bogus bankruptcy ...
 

... and should be thrown out.

"American said it has about $4.1 billion in unrestricted cash and short-term investments."

American Airlines parent files for bankruptcy - The Washington Post

Step one: tote up the total hourly rate for a 777 crew

Step two: divide amongst the people in the back

Step three: multiply by length of flight.

People pay their pilots $20 or less to fly across the Atlantic. Don't believe the hype. American's problem is a dearth of leadership.

20USD to fly across Atlantic - I don't believe you.