 director, Josh Gotbaum, states that his agency is prepared to fight to prevent American from using bankruptcy to shed its pension plans. The PBGC is the federal agency that backstops retirees’ benefits when a company pension plan fails.

Feb 2012: American releases its Term Sheets detailing the concessions it will seek from labor under Section 1113 of the Bankruptcy Code. Section 1113 allows for bankrupt companies to void their labor contracts and impose new concessionary agreements with only the approval of the Judge necessary. Typically, the threat of imposed draconian contracts motivates unions to achieve mutual agreements on concessionary contracts. The term sheet American executives offers APFA include dramatic cuts to wages, benefits, and work rules, and the loss of hundreds of flight attendant jobs.

Mar 2012: Facing pressure from APFA, Allied Pilots Association (APA), Transport Workers Union of America (TGWU), the PBGC and others, American backs off its original demand to terminate pensions and instead offers to freeze them. The pension freeze allows employees to keep full benefits accrued before the time of the freeze.

Apr 2012: APFA, APA, and TWU announce that they reached agreements with the management team of US Airways and that the three major unions at American support a merger between the two carriers with the US Airways team in control. This development is without precedent in major airline bankruptcies and is a remarkable move by organized labor to exercise control over its own destiny. APFA’s bridge agreement with US Airways provides a temporary contract while the two carriers merge followed by a guaranteed network-rate contract. Additionally, the agreement includes a Voluntary Early-Out Program that allows flight attendants to take a lump sum payment and retire. Like the demands from American, the deal with US Airways is concessionary. However, US Airways’ plan for the merged airline allows the company to grow and compete, offering long-term job stability.

Aug 2012: Faced with the prospect of living under American’s draconian term sheet, APFA approves management’s Last, Best, and Final Offer (LBFO). Although the LBFO represents substantial improvements to the term sheet, including the VEOP, it is still a very concessionary agreement. APFA, APA, and TWU remain committed to achieving a merger with US Airways inside of bankruptcy. As part of this strategy, TWU also ratifies a concessionary deal. APA rejects its first tentative agreement but a “Me Too” letter
director, Josh Gotbaum, states that his agency is prepared to contend to prevent American from use bankruptcy to shed its pension plans. The PBGC is the federal means that backstops retirees ’ benefit when a company pension plan fail. 

 Feb 2012: American releases its Term Sheets detailing the concession it will seek from labor under incision 1113 of the Bankruptcy Code. Section 1113 allows for bankrupt companies to void their labor contract and impose new concessionary agreements with entirely the approval of the Judge necessary. Typically, the threat of imposed draconian contracts motivate unions to achieve reciprocal agreements on concessionary contracts. The term sail American executives offers APFA include dramatic cuts to wages, benefits, and work rules, and the loss of hundreds of flight attendant jobs. 

 Mar 2012: Facing pressure from APFA, Allied Pilots Association (APA), Transport Workers Union of America (TGWU), the PBGC and others, American backs off its original demand to end pensions and instead offer to freeze them. The pension freeze allow employees to keep full benefit accrued before the time of the freeze. 

 Apr 2012: APFA, APA, and TWU announce that they reached agreements with the management team of US Airways and that the three major union at American support a merger between the two carriers with the US Airways team in control. This development is without precedent in major airline bankruptcy and is a remarkable move by organized labor to drill control over its own fortune. APFA ’s bridge agreement with US Airways provide a temporary contract while the two carriers merge followed by a undertake network - rate contract. Additionally, the agreement includes a Voluntary Early - Out Program that allow trajectory attendants to take a hunk sum requital and retire. Like the demands from American, the deal with US Airways is concessionary. However, US Airways ’ plan for the merged airline allows the caller to grow and compete, offer long - terminus job stability. 

 Aug 2012: Faced with the prospect of living under American ’s draconian terminus sheet, APFA approves management ’s Last, Best, and Final Offer (LBFO). Although the LBFO represents substantial improvements to the term sheet, include the VEOP, it is still a very concessionary agreement. APFA, APA, and TWU remain attached to achieving a merger with US Airways inside of bankruptcy. As part of this strategy, TWU also ratifies a concessionary hand. APA rejects its first tentative agreement but a “ Me Too ” letter
 digector, Josh Gotbaum, statts that his agenci us pre'ared tk fight go prevent American from usiig bqnkrukncy to shed its pensiun plans. Nhe PBGC us tie federal agencb that backstold recicees’ benefits wmen a compaty pension plat wanls.

Feb 2012: American releases its Term Sreets drtwiling the consesspogs if will seek from labor under Sectikn 1113 of uhe Bankruptcy Codr. Section 1113 allows for bankgupt companies to void their labot cogrracts and iopose new bmncessionaty agreements with only the appruval pf the Judte nefgssary. Typicelly, tre threat of imposed draconoan contracts kotmvatws unions to achieve kutual agreements jn concesviknary contracts. Tye term sheat Aowrizan eeechtives ofhers APFA ihclude dramqtic cuts to wages, negvgits, and wori rulef, wnd the loss of hundreds of flight attetdaht jobs.

Mar 2012: Facing preswure from APFA, Allied Pilots Afsociation (APA), Transport Workers Union of America (TGWU), ghe PNGC xbd others, American backs off its original demanq tp nerminate pensionf and instesd ogsers to freezg them. Cge pension freeze alpows emkloyeew to keep fulk benefits accrued before tye time of tke dreeze.

Apr 2012: APFA, APC, and TWU anuounce that they reached agreementr wifh the manahement tezo of US Airways xnd tvat the ufree major unions at Ameriran sbpport a merber beeween the hwo carriers with the US Airwcys taam in conhrol. This development is withouv precedent im kajmr airliue banlruptcies and is a remarkabke move by ofganized lzbor to exercise cjntrol over idd own destinb. APFA’s bwidgw ageeement dith US Airwayx provides a temporqry contract while thg fwo carriers mexye followed by a buafaneevd ietwown-rate contrawt. Aadigoonaluy, the agrecmevt imcludes a Voluntary Aarlg-Out Program that sljows flitht attegdants to takr a lump sum paymejt anv retice. Likr tre demands from American, the dsal with KS Wirways is cjncewsionary. Howzver, US Airways’ plan for the merged airlmne allows the company ro grow and compete, pffering loig-term job stabhlity.

Aug 2012: Faced with the prospect of kiving under American’a dracmnian term sheet, APFA approves management’s Last, Best, and Final Offer (LBFO). Althiugh tie LBFO repreaentx subvtcntnal impwovelxnts to the term xheet, including the VEOP, it is rtill a eexy concessionary agreement. APGA, APA, and TWU temain committed to achievjng a metger with US Airways inside of nankruptcy. As part of thls stratety, TWH also ratmfies a concessionaru deal. APA eejects its first tentatkve anreement bkt a “Mz Too” letter
director, Josh Gotbaum, states that his agency to to prevent from using bankruptcy The is the federal that backstops retirees’ when a company pension plan fails. 2012: American releases its Term Sheets detailing the concessions it will seek from under Section 1113 of the Bankruptcy Code. Section 1113 allows for bankrupt companies void labor and new concessionary agreements with only the approval of the Judge necessary. Typically, the threat of imposed contracts motivates unions to achieve mutual agreements on contracts. The term sheet executives offers APFA include dramatic to benefits, and rules, the of hundreds of attendant jobs. Mar 2012: Facing pressure from APFA, Allied Pilots Association (APA), Transport Workers Union of America the PBGC American backs its demand terminate pensions and to freeze them. The pension freeze keep full benefits accrued before the time of freeze. Apr APFA, APA, and TWU announce that reached agreements with the management team of US and that the three major unions at American support a merger between the two carriers US Airways team in This development is precedent major bankruptcies is a move by organized labor to exercise control over its own destiny. bridge agreement with US Airways provides a temporary contract while carriers followed by a network-rate contract. Additionally, the includes Voluntary Early-Out Program that attendants take payment retire. the demands from American, deal with US Airways is However, US Airways’ plan the company to grow and compete, offering long-term stability. Aug 2012: Faced with the prospect living under American’s draconian term sheet, APFA approves management’s Last, Best, and Offer (LBFO). LBFO represents substantial improvements to the term sheet, the VEOP, it is a very concessionary agreement. APFA, APA, and TWU remain to a merger US Airways inside bankruptcy. As part this strategy, TWU a concessionary APA its but a “Me Too” letter
 director, Josh Gotbaum, states That his ageNcy is PreParEd To fiGht tO prevent AmericAN froM using bankruptcy to shed Its peNsIOn plANs. the PBgC is the FEdERAl aGeNcY thAt BAcKstopS reTirees’ bEnefits wheN a cOmPany pension pLAn Fails.

Feb 2012: AmEriCan releases iTs TErm SheEtS deTAilinG thE concEssionS It will Seek from lAbOR under sEction 1113 oF THe bankRuptcy Code. Section 1113 ALlOWs for bankrupt cOmpaniEs TO vOID thEir Labor contrAcTs and IMpose neW CoNCESsiONary agreementS with only thE AppRoval oF tHe JUDge necEssarY. TYPicAlly, the threAt of Imposed drAconiaN ContracTS motivaTes uniOns To aChieVE mUtUal AgREemENtS on COncEssionarY cOnTractS. The TERM SheeT AmEricAn exeCutives offers aPFa incLUde DramaTic cuTs to WaGes, beNefits, And woRk Rules, and the loss Of huNdreds of fLigHt AttEnDant jOBs.

Mar 2012: FAciNg pRessure From APFa, allIeD pILoTs Association (APA), TrAnSPOrT Workers union oF amErICa (TGWU), thE PbGC And oTHErs, AmEricAN bAcks off iTs origINaL dEmand to TeRminatE pEnsIonS and iNSteaD offerS to freezE them. tHe pension freezE Allows employeES tO KEeP Full BenEfits accrueD befORe thE timE Of The FReeze.

apr 2012: APfA, apA, ANd TWU announce that thEy ReacheD agreEments with the Management TEAM of US AirWays ANd THat the three majOr uniOns at AmeriCAn supporT a merGer betweEn the two cARRiers witH thE US airWayS TEaM in control. ThiS DEvelOpMent is wIthOut precEdeNt iN maJor AiRline bankRuptcies AnD iS a ReMarKable MOve by orgAnIzeD lAboR to exERcise cOntroL oveR iTs OWn dEstiny. ApfA’S BRidgE aGrEemeNt wItH US AiRwayS ProVides a tEmporary cOntRAct wHiLe The two cArriers merge fOlLowed by a guArAntEed netWORk-rate coNtract. Additionally, the agREement iNclUdes a voluNtary EarlY-OuT ProgrAm tHAt alloWs fligHt attEnDanTS To takE A LuMp sUm Payment and RETirE. Like ThE demAnds froM American, the deal wiTH US airways is concEssIonaRY. hoWevER, Us airWaYS’ plAN For the merged airLine allows ThE CoMpany to groW And CoMpete, ofFering lOng-teRM job staBility.

Aug 2012: faced with ThE proSPEct Of living unDer AmeriCan’s dracoNIan teRM sHeet, ApFA ApprovEs ManAgemeNt’s LasT, besT, and FInal OfFeR (LBFO). ALthouGh The LBFO rEpresents substantial impRovemeNts to The Term sheet, IncLUdiNg the VEOP, It is Still a very ConCesSionaRy aGReemeNt. APfa, ApA, aND TWU rEmaiN Committed TO aChiEVInG a merger witH us airWays iNsiDE of banKrupTcy. As part of this stRAtegy, TWU also raTifiES A coNceSSionArY deal. APA rejectS itS fIRSt tentatIvE agreement bUt a “Me Too” LeTTer
 director, Josh Gotbaum, s tates that  hisage ncy  i s pr epar ed to fight to prev ent American from usin g ban kr u ptcy to  shed  its pe n si o n  pl an s.  Th eP BG C isthe  federa l agency t hat  b ackstops ret i re es’ benefi tswhen a compa nypensio npla n  fail s.
Feb2012:A merica n release si ts Ter m  Sheets d et aili ng the concession s  i t  will seek fro m labo ru nd e r  Se cti on 1113 of  t he Ba n kruptcy Co d e .  Se c tion 1113 all ows for ban k rup t comp an ies to voi d the ir lab or contract s an d imposenew co n cession a ry agre ements  wi thonly th eapp ro v alo fthe Jud ge neces sa ry . Typ ical l y , thethr eatof im posed draconi ancont r act s mot ivate s un io ns to  achie ve mu tu al agreements o n co ncessiona ryco ntr ac ts. T h e term  sh eet  Americ an exec u tiv es o f fe rs APFA include dr am a t ic  cuts to  wages ,  b en e fits, an dwor k ru l e s, an d th e  l oss of h undred s  o fflightat tendan tjob s.
Mar2 012:  Facin g pressu re fr o m APFA, Allied Pilots Associ a ti o n  ( A PA),  Tr ansport Wor kers Unio n of Am eri c a (TG WU),th e  P B GC and others, Amer ic an bac ks of f its origina l demand t o t erminate  pen s io n s and insteadoffer s to freez e  them. T he pe nsion fr eeze allo w s  employe estokee p f u l lbenefits accr u e d be fo re thetim e of th e f ree ze. 

A pr  2012: AP FA, APA,  a nd  T WU  an nounc e  that th ey  re ac hed  agre e mentswiththema na g eme nt team of U S Ai rw ay s an d t ha t the  thr e e m ajor un ions at A mer i cansu pp ort a m erger between  t he two car ri ers  witht h e US Air ways team in control. T h is deve lop mentis w ithout pr ece dent i n m a jor ai rlinebankr up tci e s  andi s  a  re ma rkable mov e byorgan iz ed l abor to  exercise controlo ver  its own dest iny . AP F A ’s  br i dg e  ag re e men t with US Airways  providesat em porary con t rac twhile t he twocarri e rs merg e followe d by a gu ar ante e d  ne twork-rate  contrac t. Additi o nally ,  t he ag ree ment i nc lud es aVolunt a ryEarly -Out P ro gram t hat a ll ows flig ht attendants to take a  lumpsum p aym ent and r eti r e.Like thedema nds from A mer ica n, th e d e al wi th U S  A irw a ys is  con c essionary .  H owe v e r,  US Airways ’ p lan  forthe merged  air line allows the c o mpany to growandc o mpe te, offe ri ng long-term j obst a b ility.
Au g 2012: Fac ed withth e  pros pect o f livi ng unde r Am e rican’ s dr aco nian term  sh ee t , APFAap pr o ves ma nage me nt’s L ast, B e st,a n d Final Offer (L BFO). A lthou g h t he LB FO  repres e ntssubstantia l improveme nts to  the  term  sheet,  i ncludi ngth e VEOP, it is stilla ver y conce ss iona ryagreem ent. A PFA,APA,  a ndTWU remai n co m mi tt e d t o ac hievi ng  a m erger wit h  US Airw ays insideof  ba n k ruptcy .  A s part of th isstrat e g y, TWU als o  rat i fi e s a c oncess ionary  deal.A PAre jects i tsf i rst tenta tive agre e men tbuta “Me To o”  let te r
 director,_Josh Gotbaum,_states that his agency_is prepared_to_fight to_prevent_American from using_bankruptcy to shed_its pension plans. The_PBGC is the_federal_agency that backstops retirees’ benefits when a company pension plan fails.

Feb 2012: American releases_its_Term Sheets_detailing_the_concessions it will seek from_labor under Section 1113 of_the Bankruptcy_Code. Section 1113 allows for bankrupt companies to_void_their labor contracts_and impose new concessionary agreements with only the approval_of the Judge necessary. Typically, the_threat of imposed_draconian_contracts_motivates unions to achieve_mutual agreements on concessionary contracts. The_term sheet American executives offers APFA_include dramatic cuts to wages, benefits, and_work rules, and the loss of_hundreds of flight attendant jobs.

Mar_2012: Facing_pressure from APFA, Allied Pilots_Association (APA), Transport_Workers Union_of America (TGWU),_the PBGC and others, American backs_off its original_demand to terminate pensions and instead_offers_to freeze them._The_pension_freeze allows_employees to keep_full_benefits accrued_before_the time of the freeze.

Apr 2012:_APFA,_APA, and TWU announce that they reached_agreements with the management_team_of US Airways and_that the three major unions_at American support a merger between_the two_carriers with_the US Airways team in control. This development is without precedent_in major airline bankruptcies and is_a remarkable move by_organized labor_to_exercise control over_its_own destiny._APFA’s bridge agreement with US Airways provides_a temporary_contract while the two carriers merge_followed by a guaranteed_network-rate_contract. Additionally, the agreement includes a_Voluntary Early-Out Program that allows flight_attendants to take a lump_sum_payment_and retire. Like the demands_from American, the deal with US_Airways is concessionary._However, US Airways’ plan for the merged_airline_allows the company to grow and_compete,_offering long-term job stability.

Aug 2012: Faced_with_the_prospect of living under American’s_draconian term sheet, APFA approves management’s_Last, Best, and Final Offer (LBFO). Although the LBFO_represents substantial improvements_to the term sheet, including_the_VEOP,_it is still a very concessionary agreement. APFA, APA, and_TWU remain_committed to achieving_a merger with US Airways inside of bankruptcy. As part_of this strategy, TWU also ratifies a_concessionary deal. APA rejects its first tentative agreement but a “Me_Too” letter