Last month we came precipitously close to filing for bankruptcy. We were fully prepared to file bankruptcy. We're a very prudent company.
Canada's official languages program is arguably the most successful affirmative action program in history.
If we don't have ratification by all three unions at that time, we are left with no choice but to file bankruptcy. It's a deadline the union leadership has been aware of for quite some time.
They're not at that stage yet. ... The time will come.
The recovery plan does foresee a return to profitability and some upsides for the employees through profit sharing and stock options. What the unions asked was, 'What if the company becomes wildly profitable, beyond any projection.' We said that's a legitimate issue. That [return to investment grade debt] would signify things are very different than they are today, performing well above plan.
The fear I had was Rita would be the knockout punch to a city that still had its heart and soul.
The question is whether American restructures its costs outside of bankruptcy court or through the court system. One way or another we will restructure our costs.
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This is informational picketing only and is not causing any disturbance to our service.
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