America West Teamsters Picket Shareholder Meeting

Mechanics Protest for Job Security in Face of US Airways Merger; Question Board on Incentives to Senior Management 


TEMPE, Ariz., Sept. 13  /PRNewswire/ -- Today, America West Teamster aircraft maintenance workers picketed outside the America West Holdings Corporation (NYSE:AWA) Special Meeting of Shareholders at the corporation's headquarters.  The workers, members of Teamsters Local Union 104, also voiced their concerns over job security issues involved with the impending merger with US Airways to the Board of Directors and top executives during the meeting.

America West Shareholders voted in favor of the merger.

"We want this merger to be successful," said Andrew Marshall, Teamsters Local 104 Secretary-Treasurer.  "But this can only happen if the employees at both airlines feel their jobs are protected and their concerns heard."

America West Airlines mechanics are in their second year of contract negotiations and are seeking important job security protections.  Meanwhile, this summer, America West's Board of Directors granted generous incentives to senior management to stay on through the merger.  CEO Doug Parker received options to purchase 500,000 shares of America West common stock that will convert to shares of the new US Airways entity and vest over time if the merger goes through.  Parker will also receive appreciation rights for 196,000 shares and be awarded 60,000 shares of restricted stock if the merger is successful.

"Where are the incentives for the mechanics and other work groups at both America West and US Airways?" asked Pat Porter, Teamsters Local 104 Representative and America West mechanic.  "There is too much uncertainty for airline workers.  We need answers."

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States and Canada. 

DATASOURCE: International Brotherhood of Teamsters



CONTACT:  Andrew Marshall of International Brotherhood of Teamsters,

[phone]



Web site:  http://www.teamster.org/

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