United Airlines pilots approved a new four-year contract that is the costliest ever at a U.S. carrier, providing a cumulative increase in total compensation...
“The journey that brought us to this day was long, difficult, and not without turmoil and upheaval,” Garth Thompson, chairman of the ALPA unit at United, said in a statement. “However, the journey also reinvigorated our union, reminding us of what we can accomplish through involvement and resolve.”
The pilots also benefited from the fact they were all negotiating at the same time, allowing them to push for similar terms in some areas.The multibillion-dollar agreement will boost United’s costs and be the most expensive ever for an airline labor agreement. Pilots will get an immediate pay boost of 13.8% to 18.7% upon signing the deal, followed by annual increases of as much as 5%. More than 200 improvements in the contract, including pay hikes, are immediate, the union said.
Total compensation, including retirement and other benefits, will increase between 34.5% and 40.2% depending on aircraft flown. Hourly pay for a 12-year captain flying the largest aircraft would rise to $428.56 in 2027, from $313.10 now. Labor and fuel compete to be the largest cost for airlines. A series of new agreements has pushed salaries, wages and benefits to the top spot, accounting for 44% of total costs, Conor Cunningham, a Melius Research analyst, said in a recent report.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I'm 18, I Make $10 An Hour & I'm A Full-Time StudentThis is how a college student in Ohio spends her money.
Read more »
My Grandma Has Used This $10 Firming Cream for Years to Avoid WrinklesMy mom and grandma have been using Gold Bond’s Age Renew Neck and Chest Firming Cream to tighten and improve the appearance of wrinkles for years. The firming cream is on sale for $10 cream ahead of Amazon's Prime Big Deal Days.
Read more »
These $10 Overnight Oats Jars Are Ready To Go With You To Work or SchoolThey're the easiest grab-and-go containers you can buy.
Read more »
Autonomous World: A $10 Trillion Market OpportunityAnything with wheels, legs, or arms will be autonomous in the future.
Read more »