Originally Posted by
panjabi
The thought process here is that the Board did not want to leave anything to chance and had a gentleman's agreement with both IAG and TPG
The problem is once you go into any form of Bankruptcy the outcome can be unpredictable and certainly not bound by any gentleman's agreement.
There were many round here who were banging the drum for Chapter 11 as a sure fire way to reduce costs with AA emerging as a leaner, meaner version of its previous self.
I wonder how it will all look IF (and it's a BIG IF) the majority of AA gets swallowed up by DL, the TATL ATI and maybe the deal with JAL get invalidated and we all start earning Skypesos in domestic aircraft where upgrades are next to impossible? How good will Chapter 11 look then?