- AFA Reaches Agreement Concerning
Stock
- Accessing The Hub
-
AFA
Local Numbers
AFA reaches agreement concerning stock from first US Airways bankruptcy; avoids income tax hit to flight attendants.
Dear Members,
The AFA yesterday reached an agreement with US Airways which will save Flight
Attendants from unnecessary income tax withholding obligations.
As part of the restructuring agreements between AFA and US Airways from the first bankruptcy case,
Flight Attendants received the right to stock in the company. A portion of that stock was scheduled to vest for
Flight Attendants on January 1, 2005. Had that happened, the company would have withheld cash from
Flight Attendant paychecks to cover federal, state and local tax withholding requirements, even though the stock is worth very little now and may soon have no value whatsoever. To avoid that problem, AFA entered into a Letter of Agreement with US Airways which will postpone vesting until June 30, 2005. At that point, we should be in a position to judge whether the stock will have any value in a reorganization plan, and make an appropriate decision as to how the shares should be treated. The CWA, IAM and TWU have all reached similar agreements with the company.
Teddy
MEC President, AFA-CWA
~~~~~~~~~~~~~
Accessing The Hub:
http://thehub.usairways.com
Logging in the first time your user name is u0(zero) and your five digit
employee number. Your initial password is the first five digits of your social
security number. Questions about the Hub? Please contact the EDS Help Desk at
336-744-6000 for assistance. More information can also be found HERE.
AFA Local Numbers
Council 40 PIT 724-695-3329
Council 41 DCA 703-690-6859
Council 69 BOS 781-289-8454
Council
70 PHL 215-492-0840
Council 82 LGA 315-736-3483
Council 89 CLT 704-527-0325
New Hotline Number Toll Free: 866-USA-AFA2
US AIRWAYS Benefits Information 800-872-4780
Reply to Inflight: askinflight@usairways.com
|
