Tue, Apr 17, 2012
Issues An Official Statement on American Airlines Restructuring
In a propared statement released Friday, Oklahoma Governor Mary Fallin said that the best thing for her state would be for American Airlines to emerge from bankruptcy looking much like it did before it fell on hard times.
Fallin (pictured) said that as governor, her priority has always been "to retain and create as many good jobs as possible for working Oklahomans and their families." She said that the state Department of Commerce and her office have been monitoring the progress of American Airline’s restructuring under Chapter 11 of the Bankruptcy Code. She said that it is necessary for American to emerge a viable company and a strong competitor from what she described as a difficult and painful process.
“Questions have risen recently about what the best outcome of the bankruptcy process may be for Oklahoma, including the possibility of a hostile takeover of the company," Fallin said. "I want to make this clear: for Oklahoma’s sake, there is no question that the best outcome for our state and its workforce is for American to rapidly and successfully exit from bankruptcy in control of its own destiny. A hostile takeover would create delay and an uncertain future for workers and their families.
“American Airlines has developed a business plan built upon growth and on retaining thousands of jobs in Oklahoma. While the company’s plan must obtain final approval from the bankruptcy judge and creditors, American’s management and its union leaders are working hard to find an agreement that will ensure American exits bankruptcy a viable and independent competitor. We hope that occurs so a maximum number of American Airlines jobs remain in Oklahoma.”
Tulsa World reports that court documents show that the restructuring plan presented by AMR Corp. calls for deep cuts in the airline's labor force ... as many as 13,000 jobs and $1.25 billion overall. Some 2,100 of those could come from the Maintenance and Engineering Center in Tulsa, OK.
“The past months were amazing for ARCA Space Corporation, as the ArcaBoard was prepared for production. We couldn’t be happier knowing how fortunate we are to create an>[...]
Order For 37 More A321s Brings The Total Order Book To 82 Of The Large Narrowbody Aircraft Delta Air Lines has reached an agreement with Airbus to acquire 37 additional A321s as pa>[...]
Klyde: The More Things Change, The More They Stay The Same! FMI: www.klydemorris.com>[...]
Proposed Regulations For Small UAS Operation Have Been Forwarded To The OMB For A Final Look After waiting for an extended time, the FAA has finally forwarded its proposed regulati>[...]
Also: MU-2 AOA, AMA Responds To Senate FAA Reauthorization, ANN@AEA Live 04/27-0830ET, ANN@AEA Live 04/28-1400ET, ANN@AEA Live 04/29-1100ET A report of a drone possibly colliding w>[...]