AA parent company AMR Corp files for Ch. 11 Bankruptcy

Status
Not open for further replies.
cove said:
Serfty, thank you for posting that article on AA and AE.
Having sat at the back of an MD80 by the jet engine window I did finally get my hearing back but I will not do that again no matter how desperate I might get. ...
Click to expand...
Never sat further back then the exit row on one which is well forward of the engine. :cool: As posted it's the 2x seating I like.:D

FWIW, in the article as post be drron, the S80's are like to go the way of the AeAgle as well.:-|
 
Check out the latest credit card signup bonus point offers
Read our AFF credit card guides and start earning more points now.

AFF Supporters can remove this and all advertisements

Three of nine seats; the others are Boeing Co. and banks acting for bondholders, so they don't have an overriding vote.
 
They will just make it interesting at the meetings, but doubt they will make much impact - Boeing and the bondholders are more significantly in the hole I would wager...
 
Danger said:
American, Chapter 11 and its implications for passengers - Business Traveller
Click to expand...

But as has been quoted before if AA wanted to reduce capacity they could do that without Chapter11.
The number 1 reason is fleet renewal-they can get rid of a lot of older less efficient aircraft.Some of their MD80s sitting in the desert are still under lease-chapter 11 can solve that problem.This apparently is why AA split it's order for new aircraft between Boeing and Airbus-Airbus could confirm a definite order,boeing couldn't.In Chapter 11 it must be a firm committment if they want to get out of old leases.
Related to the first is they can now basically get rid of American Eagle,they had been trying for some time to sell it.
Both of the above will though lead to a reduction in capacity.
Of course another reason is reducing employee costs particularly the pension scheme.so certainly may be a few more surly crew.
They have already made the changes to their FF scheme-eg life status now only BIS miles,reducing Aanytime awards but keeping those based in the USA on side by introducing Dynamic awards for domestic travel-these are only for elite members residing in the USA.
They have also conserved cash so they can survive the Chapter 11-this was obviously a well planned exercise.
 
Buried deep in American Airlines' Chapter 11 bankruptcy filing is a striking asset -- a town house in one of London's most expensive residential streets that property experts say could be worth up to $30 million....

Nice pad for its senior execs ;)
 
Several of the MDs already gone + a couple of 757s.
See here-
North American Fleet Update

Locally was having a chat with our solicitor(just updating wills).
Was having problems with a flight Cancun-MIA.Aero Mexico have dropped their direct flight and the only one at a suitable time that was direct was with AA.however Covermore wouldn't insure them if flying AA and Flight centre was making them sign a waver if they used AA.Was way over the top.
 
drron said:
Flight centre was making them sign a waver if they used AA.Was way over the top.
Click to expand...

What's the wording of the waver? Do they know something I (we?) don't?




Sent from my Telstra iPhone using the Australian Frequent Flyer application.
 
v8Statesman said:
What's the wording of the waver? Do they know something I (we?) don't?




Sent from my Telstra iPhone using the Australian Frequent Flyer application.
Click to expand...

It was something along the lines of -you acknowledge that FC is not responsible for correcting schedule changes or cancelled flights nor anything due to the close down of AA.
I think that Covermore and FC probably know less than us.:lol:
;)
 
AMR is leaving the New York Stock Exchange shortly as the company has traded under $1 for 30 days.
Points still have value and can continue to be redeemed as usual.
 
It is not too late to get your shareholding in American Airlines. The company now is an Over The Counter trade where you get about 4 shares for a dollar. This may not prove to be a bargain but you could impress your friends!
 
AMR Corp , the bankrupt parent of American Airlines, is racing to renegotiate aircraft leases and bag what experts believe could be hundreds of millions of dollars in savings....

Now the fun really starts, the biggest cost savings begin...
 
Airlineroute is reporting AA is cutting ORD-DEL daily service from March.
 
cove said:
It is not too late to get your shareholding in American Airlines. The company now is an Over The Counter trade where you get about 4 shares for a dollar. This may not prove to be a bargain but you could impress your friends!
Click to expand...
AMR has been de-listed from US stock exchanges, and is now trading under AAMRQ (Historically, a "Q" at the end of a ticker symbol denotes bankruptcy).

FWIW It's a near-certainty that AMR common stock will be cancelled is thus on the path to worthlessness, just like in every other airline bankruptcy. It will trade "over the counter" until then.

In other news, the NMB has called a meeting of AA execs with the top three unions in AA's HQ offices new DFW.

http://www.star-telegram.com/2012/01...meet-this.html

AA proposes to hire bankruptcy advisors (Skyworks), labor cost advisors, and capital structuring advisors (Rothschild)

http://www.tulsaworld.com/business/a...1_Americ405266

ISTR AA has 60 days to reject aircraft leases, so hectic negotiations with lessors (~220 aeroplanes) would be ongoing.

AA Intends to retain 85 Planes that it leases or owes money on.

http://aviationblog.dallasnews.com/a...s-well-ke.html

The average age of the leased aircraft being kept is about 12 years, with only two delivered after 2001.

These includes 40 of the Boeing 737-800s, with most delivered in 1999-2001, 3 Boeing 767-300ERs, all delivered in 1999, 22 Boeing 777-200ERs, delivered in 1999-2001 as well as 20 Boeing 757-200s, with the majority delivered in 2001.
 
Status
Not open for further replies.

Become an AFF member!

Join Australian Frequent Flyer (AFF) for free and unlock insider tips, exclusive deals, and global meetups with 65,000+ frequent flyers.

AFF members can also access our Frequent Flyer Training courses, and upgrade to Fast-track your way to expert traveller status and unlock even more exclusive discounts!

AFF forum abbreviations

Wondering about Y, J or any of the other abbreviations used on our forum?

Check out our guide to common AFF acronyms & abbreviations.

Recent Posts

Currently Active Users

... and 39 more.
Total: 539 (members: 89, guests: 450)
Back
Top