Don't know if this story got any coverage over there, but thought it worthy of mention.
AA is my hometown airline, and does not often give cause for good press.
http://www.nytimes.com/2011/12/01/opinion/...amp;src=tp
I don't imagine he is related in any way to Michael O'Leary!!! 2011 BMW X3 35i Carbon Black
2006 RRS HSE 4.4, Zambezi Silver
Swiftly and with style!!!

It's nice to see. Of course, he's not likely to be penniless as he has no doubt been very well paid in previous years. But it's good to see a CEx with some moral fibre (fiber for our US cousins ).

What is interesting is the bit about companies taking Ch 11 and then getting rid of things like employee pension liabilities. That has a certain resonance over here at the moment, of course, because lots of private sector people have seen their pensions in the UK disappear because of clever corporate tricks over the years. And they're all still hurting from it as we've seen from comments around the UK this weeks. 2012 SDV6 - it's missing a couple of cylinders
2008 TDV8 - it was a labour of love and is much missed

A lot of his compensation was in stock options. If the company did well, he did well, but the opposite is also true. Unfortunately the stock price has tanked in recent years. Check out the 5 yr graph for AMR at the following link.
http://www.marketwatch.com/investing/stock/amr

Yes, Chapter 11 has nasty effects on union contracts and pension entitlements plus much more. Anything like that being used or proposed over there? 2011 BMW X3 35i Carbon Black
2006 RRS HSE 4.4, Zambezi Silver
Swiftly and with style!!!

Be interesting to see how much stock he still holds and how much he's sold over the years. I'm betting he's got a few million in the bank either way.

Not sure what happens in the UK but I believe one of the things that happened previously was that the pension fund was seen as a company asset so when a company was old the pension fund was also sold. 2012 SDV6 - it's missing a couple of cylinders
2008 TDV8 - it was a labour of love and is much missed