AA changing its position re: pensions in bankruptcy

Discussion in 'American Airlines | AAdvantage' started by kansaskeith, Mar 8, 2012.  |  Print Topic

  1. kansaskeith

    kansaskeith Gold Member

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    An old (almost my age!) college buddy, who's been a manager with AA in Dallas forever, added this sentence to an e-mail he sent me today on another subject. At the end, he said, "Hope all well. Things better here with freezing of AA pension plans instead of terminating them. We'll see what devils lurk in the details, however."

    His note really surprised me, but I surfed it on the net, and found this: http://blogs.star-telegram.com/sky_...ensions-instead-of-terminating-the-plans.html

    This would seem to be very good news for the employees, though not for the pilots, yet. With a freeze, the employees still can get pensions, and not subject to a "cap" if the plan is terminated and goes over to the P.B.G.C. The freeze just means they can't get further credits for future service with the company beyond the date of the freeze, but what they have in already would be fully protected without a cap. Hope this all gets worked out, and that maybe a solution can be reached for the pilots, too.
    autolycus and TheBeerHunter like this.
  2. zphelj

    zphelj Gold Member

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    Looks like AMR asked for an extension to file their reorg plan. No doubt this will fuel the speculation of a failure to reorg or a takeover but TWU already accepted the plan.

    Tulsa World News

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