Carrier American Airlines struck a new four-year contract that immediately raises pay by 21% and adds additional benefits, including changes in scheduling.
American Airlines Group stock rose after pilots ratified a new four-year contract that immediately boosts pay by 21%.
The union representing 15,000 pilots said the new contract, which also boosts 401 retirement plan contributions, will raise overall pay by 46% over the next four years, or $9.6 billion, compared with their prior agreement. The carrier sweetened its offer after an earlier proposal fell through. American joins United Airlines Holdings and Delta Air Lines in raising pilot pay. The new contract also includes changes in scheduling and benefits sought by the union as carriers try to overcome the challenges of emerging from pandemic shutdowns amid surging customer demand.
“The pilots of American Airlines have spoken: It’s time to move forward with a new working agreement that provides substantial monetary gains and quality-of-life improvements,” said Capt. Ed Sicher, the president of the Allied Pilots Association. American’s CEO Robert Isom said, “This agreement will help American immediately expand our pilot training capacity to support under-utilized aircraft and future flying and provide our pilots with more opportunities to progress in their careers.”Carriers have been under pressure amid employee shortages, including pilots, and union demands for higher pay and improved working conditions.
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