Friday December 8, 2023

Southwest Airlines sues two Texas state offices over $1.3 million in taxes

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Investors go giddy over AMR shares

On one day at least, you could have made a lot of money on AMR. Of course, on any given day, you could also lose a lot of money. But on Wednesday, AMR shares jumped nearly 43 percent, up 39 cents to $1.29. If Apple had gone up the same percentage on Wednesday, it would […]

APA, American Airlines spar over how much each other’s proposal would cost

We haven’t updated our coverage Tuesday on the court battle between American Airlines, which wants to throw out its union contracts, and the unions, who don’t want American to be allowed to do so. The Transport Workers Union dominated the situation Tuesday with its vote announcement on contract proposals. We had a lot of haggling […]

As April ends, fees submitted go over $43 million

There’s an end-of-month rush to file monthly fee statements from the various law firms, management consultants, financial advisors and the like, and we’ve got a late afternoon total of more than $43 million in fees submitted since AMR’s bankruptcy case began Nov. 29. Several points to consider: • With the exception of Bain & Co., […]

American Airlines says revised TWU deal would save over 3,000 jobs

In the wake of the Transit Workers Union’s release of its US Airways term sheets, American Airlines spokesman Bruce Hicks issued this statement: “As we’ve said from the start, American Airlines’ goal is to reach consensual agreements with all of our unions. That’s why we’ve worked hard with the TWU over the last several weeks […]

Here’s a look at AMR’s pension obligations and assets over the years

I remember that at the end of 2007, American Airlines/AMR had almost erased the unfunded liability in its pension plans. Ah, the good old days… They ended pretty quickly in 2008 as the stock market dive pulled down the value of pension plans (and my retirement funds) pretty sharply. Here is a chart that shows […]

Pilots to urge American Airlines to freeze pensions, not turn them over to government

The Allied Pilots Association board of directors directed its representatives Wednesday to work to freeze their American Airlines pensions, the pilots’ so-called “A plan,” rather than terminate them as the airline wants. The difference between freezing and terminating won’t be mean much for most American employees, but a major difference for many pilots. The Pension […]

Battle over AA, AMR and American Eagle consultants to wait until Feb. 29

It looks like the fight over the plans of AMR, American Airlines and American Eagle to hire some of their consultants will be deferred to Feb. 29. The companies had originally planned to seek approval at Friday’s omnibus hearing in New York federal bankruptcy court. However, an agenda for the meeting filed Wednesday indicates that […]

AMR on Thursday to trade over the counter as ‘AAMRQ’

This out late Wednesday from AMR: “AMR Corporation, the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation, announced today that its common stock will begin trading under the symbol “AAMRQ” on the OTCQB marketplace, operated by OTC Markets Group, on Thursday, Jan. 5, 2012. More information, including Real-Time Level 2 quotes, is […]

U.S. airlines expect fewer passengers, higher fares over holidays

Airlines for America, the organization formerly known as the Air Transport Association, predicted Tuesday that about 1 percent fewer people will be flying on U.S. airlines over the Christmas holidays. A4A, as it abbreviates itself, thinks 43.3 million people will climb aboard U.S. airplanes between Jan. 15 and Jan. 4. That’s a decline of about […]