Originally Posted by
LINDEGR
Revisionist history much?
AA had heavy losses before it WENT BANKRUPT. It had operating losses in seven of the ten years before filing and with net losses in eight of those ten years. It was profitable only in peak economic periods in 2006 and 2007.
Horton was forced in to the bankruptcy route when labor was unwilling to accept concessions required to keep AA solvent during the last financial crisis. At the time, AA was the ONLY full service carrier not to file Chapter 11 to shed its pension responsibilities, labor left no option. Parker was well positioned, quickly worked out agreements with labor and investors, and the rest is history.
From this perspective, I have NO sympathy for AA labor, who have reaped what they have sown.