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AMR Risks Losing Control of Bankruptcy Exit
American Airlines parent AMR Corp (AAMRQ). risks losing control of its ability to exit bankruptcy as an independent carrier after three possible suitors emerged within two months of its Chapter 11 filing. (www.bloomberg.com) 更多...Sort type: [Top] [Newest]
I realize it's just a headline, but AMR "handed over the yoke" when they declared BK. The court controls AMRs fate...AMRs board, executive staff, unions, employees, etc. have "input" but ultimately not control.
Didn't we read this same conjecture last week? ALL companies that file for bankruptcy "risk losing control" of their ultimate fate. This just proves that, even in bankruptcy, AAL is a strong company.
Something very similar. At that time, US Airways was only out there in conjecture as a merger partner, post bankruptcy. Now, according to the article, they are formally assessing an offer. None of the conjecture last week, that I remember, was talking of an offer being pre-bankruptcy as this article is, although in hindsight, any would just about have to be. If AMR can go through with it's plan, it should be strong enough to stand alone or maybe find a good dance partner because it wants to rather than has to.
I hope they can make it through as a stand alone. And I hope Eagle does as well....because I would like to count on them for a job in the next few months!
Though they haven't announced it, I personally think Eagle is gone to be replaced with contracts. My bet's on Mesa
What ever happens I just hope I can keep my Platinum status and my miles...
“This could expedite some of the more difficult decisions,” Keay said in an interview from New York. “AMR is going to have to prove to its creditors that its stand-alone exit plan adds more value than a bid by a competitor, and that is likely to be difficult.”
If left alone, the fact that AMR was not cash strapped going in as were the other legacy's, AMR will probably emerge leaner&strong. That being said, creditor and investor greed will not give one tinkers damn about the people or what is best for AA.All they will be concerned about are their own $. None of the suitors named have made an offer yet, they are just assessing making one, meaning they might or might not. TPG would have 2 options: either break it up and sell it piecemeal OR follow on through with AMR's plan and help make it work. I really think US Air is too weak although they already have a strong relationship with MESA, which could be a springboard for getting rid of Eagle. While DAL is financially sound enough to do it, the fact that they are still dealing with the NWA thing is a problem. It has taken them 2-3 years on the NWA deal and they are nowhere near done, on labor or schedule integration. To take on the absorbtion of the 3rd largest airline in the country will really be somethig to watch if it should happen. However it goes, I think Eagle will be a casualty, the routes being replaced with contract, and their maintenance, at least Tulsa, will be farmed out.
If left alone, the fact that AMR was not cash strapped going in as were the other legacy's, AMR will probably emerge leaner&strong. That being said, creditor and investor greed will not give one tinkers damn about the people or what is best for AA.All they will be concerned about are their own $. None of the suitors named have made an offer yet, they are just assessing making one, meaning they might or might not. TPG would have 2 options: either break it up and sell it piecemeal OR follow on through with AMR's plan and help make it work. I really think US Air is too weak although they already have a strong relationship with MESA, which could be a springboard for getting rid of Eagle. While DAL is financially sound enough to do it, the fact that they are still dealing with the NWA thing is a problem. It has taken them 2-3 years on the NWA deal and they are nowhere near done, on labor or schedule integration. To take on the absorbtion of the 3rd largest airline in the country will really be somethig to watch if it should happen. However it goes, I think Eagle will be a casualty, the routes being replaced with contract, and their maintenance, at least Tulsa, will be farmed out.