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United Airlines pilots approve contract extension
Source: Reuters
Business | Fri Jan 22, 2016 5:09pm EST
United Airlines pilots approve contract extension
United Continental Holdings Inc's (UAL.N) pilots have voted to approve a two-year contract extension that paves the way for a 22 percent wage hike by 2018, their union said on Friday.
United's management has made securing labor contracts a top focus following a leadership change in September.
For years, the company struggled to conclude joint contracts for flight attendants and maintenance workers following the 2010 merger of United and Continental, hurting workers' morale.
United expects the pilots contract extension and a separate deal for technicians, still open for approval, to add about 2.5 percentage points of unit costs for 2016 compared with a year ago, acting Chief Financial Officer Gerry Laderman said on an investor call Thursday.
"While it will increase costs in the near term, having good labor relations is worth the investment," said Sterne Agee CRT analyst Adam Hackel. "This is a big step towards that."
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United Airlines pilots approve contract extension
United Continental Holdings Inc's (UAL.N) pilots have voted to approve a two-year contract extension that paves the way for a 22 percent wage hike by 2018, their union said on Friday.
United's management has made securing labor contracts a top focus following a leadership change in September.
For years, the company struggled to conclude joint contracts for flight attendants and maintenance workers following the 2010 merger of United and Continental, hurting workers' morale.
United expects the pilots contract extension and a separate deal for technicians, still open for approval, to add about 2.5 percentage points of unit costs for 2016 compared with a year ago, acting Chief Financial Officer Gerry Laderman said on an investor call Thursday.
"While it will increase costs in the near term, having good labor relations is worth the investment," said Sterne Agee CRT analyst Adam Hackel. "This is a big step towards that."
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Read more: http://www.reuters.com/article/us-ual-workers-idUSKCN0V020H