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April 17, 2013

Flight attendants' union lays out timeline for American's reorganization plan approval

In a message sent to flight attendants on Tuesday evening, the Association of Professional Flight Attendants laid out the timeline for what happens next in American Airlines' bankruptcy.

The Disclosure Statement must first be approved by the court as containing adequate information. The Disclosure Statement describes the Plan of Reorganization, the history of the bankruptcy case, the kind of compensation creditors will receive for their claims, and the company's finances and operations once it emerges from bankruptcy protection. As shown in the time line below the hearing to approve the Disclosure Statement is set for May 30. Then, AMR will send the disclosure statement, the POR, and a ballot to all creditors so that they can vote. The Court then holds a hearing to confirm the plan. Since the merger plan already has the support of the UCC, our team does not expect any significant objections to the disclosure statement or the POR.

Yesterday’s motion requested the following timeline for the significant milestones remaining in this bankruptcy:

May 23 at 4:00pm – Disclosure Statement Objection Deadline

May 30 at 11:00am – Disclosure Statement Hearing

June 20 – Solicitation Deadline (ballots must be distributed to each creditor by this date)

June 29 – Voting Deadline

August 1 at 4:00pm – Plan Confirmation Objection Deadline

August 8 – Voting Certification Deadline

August 12 at 4:00pm – Deadline to Reply to Plan Objections

August 15 – Plan Confirmation Hearing

-Andrea Ahles

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