March 8, 2003                                        

 

 

 

To:  All Local Presidents

Re:  Presidents Council Special Meeting (3-11 through 3-13)

VIA FACSIMILE, E-Mail

 

 

The Company notified the International late Friday that they plan to present a restructuring proposal totaling $620 million dollars to the T.W.U. on Tuesday, March 11.  In preparation, we have scheduled the Presidents Council to convene at the ATD office to receive the restructuring plan from the Company at 1:00 PM on Tuesday.

 

Senior VP Dan Huffman has requested to meet with the Presidents Council on Wednesday, March 12, at 1:00 PM to give an overview of his upcoming road show.

 

On Thursday, March 13, E-Clat will give a financial update along with our investment bankers, Milestone.  We will also have our attorneys present to cover bankruptcy procedures.

 

The Presidents should advise their full negotiating committees to be available from March 14 through March 31. 

 

Agenda:

 

3-11-03

Company restructuring proposal (1:00 PM to 3:00 PM)

 

3-12-03

Dan Huffman presentation (1:00 PM to 3:00 PM)

 

  

3-13-03

Presidents Council meeting (9:00 AM to 5:00 PM)

E-CLAT Consulting

Milestone Partners

Bankruptcy Counsel

General Counsel (Art Luby)

 

Due to the short time frame, please make your room reservations.  The AmeriSuite direct number is (817) 577-3003 and ask for the TWU rate.

 

 

                                                Fraternally,

 

 

                                                Gary Yingst

                                                International Vice President

                                                AA System Coordinator

 

CC:  Jim Little

       John Conley

       Robert Gless