So what's the real deal?

[roz]

Here's the ALPA merger policy. They dropped the strict DOH rule prior to this. The problem with AA/TWA was that AA is APA and TWA is ALPA. The court gave the nod to APA.

HP still has a $300 MM balance on the $429 MM ATSB loan and the U balance is $700 MM on the original $900 MM. Both loans are secured and any transaction between the airlines would require their approval, along with the U creditors and the bankruptcy court.

Neither company has any money. I wonder who would fund this?

SECTION 45 ñ MERGER AND FRAGMENTATION POLICY 10/31/02

5. The merger representatives shall carefully weigh all the equities inherent in their merger situation. In joint session, the merger representatives should attempt to match equities to various methods of integration until a fair and equitable agreement is reached, keeping in mind the following goals, in no particular order:

a. Preserve jobs.

b. Avoid windfalls to either group at the expense of the other.

c. Maintain or improve pre-merger pay and standard of living.

d. Maintain or improve pre-merger pilot status.

e. Minimize detrimental changes to career expectations.