January 22, 2007 - Leonidas

0122Final145 Q These guys know, so --6 A Probably not, I mean I --7 Q You can tell them. It is okay.8 A No, I know it is okay, it is just that,9 yes, okay.10 Q Okay. And so the America West pilots -- I11 am sorry, strike that.12 The US Airways pilots in 2004 gave up some13 $300 million in wage benefit and work rule14 concessions that were going to last probably until15 sometime in 2011, and what they got back for it was16 agreements to make these, what are they, lump sum17 payments, stock and profit sharing, if the company18 emerged from bankruptcy, correct?19 A That is correct.20 Q And if you US Airways had liquidated21 rather than emerged from bankruptcy those would have22 all been worth a big fat zero, correct?23721 A If the assumption is that US Airways2 liquidated then that would be correct.3 Q You concluded that these seven or so odd4 years of reductions were going to have to be given5 if the company was to survive, correct?6 A Could you restate the question?7 Q You concluded that the concessions that8 you have described in LOA 93 were going to have to9 be given by the pilots if the company were to10 survive?11 A It was our position that the company12 needed those concessions, that is correct.Page 34