American Airlines announced on Monday that they have ratified a new compensation package for its 15,000 pilots, valued at $9bn.
It is understood that this new agreement will last four years and provides quality-of-life benefits for them as well.
Without further ado, let’s get into it…
American Airlines CEO: “Today is a Great Day” For Pilots…
“Today is a really great day for our pilots and airline”.
“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.”
“We’re grateful for the company and APA negotiating teams who worked diligently and collaboratively to reach an agreement we’re proud of and one our pilots deserve.”
“And, I would like to personally thank and congratulate Capt. Ed Sicher, APA President, for his superb leadership throughout the negotiating process.”
Some of The Terms From This Pilot Compensation Package…
Within this deal, the following has been implemented as a result of this deal:
- $1.1bn in immediate one-time payments and ratification bonuses.
- Annual pay rate increases for the 4-year contract duration.
- Pilots to see an immediate pay raise of 21%.
- Quality of life improvements which include enhancements to vacation benefits and reassignment pay etc.
Commenting on this was Capt. Ed Sicher, the APA president:
“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”.
“This contract is a big first step toward restoring the wages, benefits, and work rules that were lost during the past two decades while our profession was under continuous assault.”
“As pilots, we hold a tremendous amount of responsibility with every flight we take.”
“It’s a responsibility we take seriously, as evidenced by the U.S. airline industry’s unrivaled safety record, and it’s time for our profession to provide rewards commensurate with its unique demands.”
“I want to offer my thanks and congratulations to the pilots of American Airlines for their engagement and professionalism throughout this lengthy negotiation”.
“I also want to thank our negotiating team, staff, and the many other APA subject-matter experts who contributed their time and talents.
“We look forward to continue doing all we can to advance our pilots’ interests by building on the significant contractual gains we have secured,”
“Make no mistake – our work is not finished, and we will remain laser-focused on maintaining the momentum we have achieved for the betterment of our members, the airline pilot profession, and the passengers we serve.”
What remains clear is that this is a big step for the 15,000 pilots+ that work for American Airlines moving forward.
Did you know AviationSource has two newsletters? One covers the general news and analysis of the industry as a whole, and the other to do with emergencies that take place throughout the year! To subscribe to our General News Newsletter, CLICK HERE! To subscribe to our Emergencies, Accidents & Incidents Newsletter, CLICK HERE!