January 12, 2012
WASHINGTON—Pension Benefit Guaranty Corporation Director Josh Gotbaum released the following statement today on the American Airlines' pension plans:
Some have suggested that American must duck its pension commitments and kill its pension plans in order to survive. We think that commitments to 130,000 workers and retirees shouldn't be disposable, that American should have to prove in court that this drastic step is necessary.
Read entire article here
January 06, 2012
In recent weeks much has been written on this site and elsewhere about the November 29th bankruptcy filing by American Airlines. But while nearly all travelers know that American has joined every other U.S. legacy carrier by filing for Chapter 11, many may not realize the nation's last major domestic airline maintenance facilities are one step closer to extinction. For years, American has been bucking an industry trend by continuing to perform nearly all aircraft maintenance in-house. But now all that could change.
Read the entire article here