4.21.03

This is APFA President, John Ward. Today is Monday, April 21.

Earlier this afternoon the APFA National Officers, along with the leaders of the Transport Workers Union and the Allied Pilots Association met with American CEO Don Carty at AMR Headquarters. The meeting was called at the request of Carty.

While apologizing to union leaders for what he called an abysmal job of communicating, Carty steadfastly stood by the company’s intention to establish the cash retention bonuses for himself and other top executives and to fund supplemental executive retirement plans. Although the company has announced that it is canceling the retention agreements, it has said nothing further about the SERP.

Carty’s apology does not change the fact that by withholding from APFA information about these bonuses and pension trust, it committed a material breach of its obligation to disclose all relevant information to us. Because of this material breach we still intend to commence with a re-balloting of the membership.

The APFA Board of Directors will determine the specific method and time line for the re-balloting when they meet in special session tomorrow here in the DFW area.

This hotline will be updated with additional information following the conclusion of that meeting. Thank you for calling.