American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing - S&P Global Ratings’ Credit Research

American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing

American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing - S&P Global Ratings’ Credit Research
American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing
Published Apr 14, 2003
495 words — Published Apr 14, 2003
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) April 14, 2003--AMR Corp. (CCC/Watch Dev/--) unit American Airlines Inc. (CCC/Watch Dev/--) will find out today and tomorrow the results of employee voting on proposed labor cost concessions that could avert a threatened bankruptcy filing. Standard&Poor's Ratings Services said its ratings on both entities remain on CreditWatch with developing implications. American's management has said that it will file for bankruptcy if the labor groups do not ratify tentatively agreed contracts that it says would save the airline $1.8 billion annually. With a positive vote required from each of the four major unions, chances of full acceptance appear evenly balanced. The pilots, with the most to lose (in particular, their generous pensions), seem likely

  
Brief Excerpt:

RESEARCH American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing Publication date: 14-Apr-2003 NEW YORK (Standard & Poor's) April 14, 2003--AMR Corp. (###/Watch Dev/--) unit American Airlines Inc. (###/Watch Dev/--)...

  
Report Type:

Bulletin

Ticker
Issuer
GICS
Airlines (20302010)
Sector
Global Issuers , Public Finance , Structured Finance
Country
Region
Format:
HTML HTML
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing" Apr 14, 2003. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Faces-Crucial-Labor-Vote-Ratings-Still-Watch-Developing-307894>
  
APA:
S&P Global Ratings’ Credit Research. (). American Airlines Faces Crucial Labor Vote; Ratings Still Watch Developing Apr 14, 2003. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/American-Airlines-Faces-Crucial-Labor-Vote-Ratings-Still-Watch-Developing-307894>
  
Free
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.