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.
Garmin's New Aviation VHF Radios Early this year, a new series of aviation VHF COM and NAV/COM radios, the GTR and GNC series, was announced by Garmin. As the replacement products >[...]
Sign MoU With Diamond Aircraft On Electric Propulsion System EADS and Siemens are entering into a long-term research partnership to introduce new electric propulsion systems that c>[...]
The heights above the earth's surface of the lowest layer of clouds or obscuring phenomena that is reported as broken, overcast, or obscuration, and not classified as thin or parti>[...]
The Army Aviation Heritage Foundation The Army Aviation Heritage Foundation (AAHF) is a non-profit public educational foundation dedicated to presenting the Army Aviation story to >[...]
“The serial electric propulsion allows us to design airplanes with totally different characteristics than today. Vertical take-off and high-speed cruise can be realized in a >[...]