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American employees face costly concessions to avoid bankruptcy.(The Dallas Morning News)
Byline: Eric Torbenson
DALLAS _ Now the hard part starts.
American Airlines Inc.'s unions have to "sell" a series of brutal tentative agreements that cut a combined $1.62 billion from their members' pay and benefits.
A weary two weeks awaits officers of American's pilots, ground workers and flight attendants as they rush to explain the deals made to avoid a bankruptcy filing from American's Fort Worth, Texas-based parent, AMR Corp.
For many employees, a "yes" vote would eliminate their job.
Changes in the contracts would mean the airline would need far fewer flight attendants and pilots. That's on top of 7,000 jobs cut in the past six months. The pilot union said Monday night that 2,500 more of its members would be lost in the next year.
If any one of 10 union groups votes against their agreement, the airline will almost certainly file for bankruptcy protection.
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Source: HighBeam Research, American employees face costly concessions to avoid bankruptcy.(The...