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☆ Southwest Airlines pilot pay would increase 50% under new labor contract
▼ + stars: | 2023-12-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines and its pilots' union have reached a new preliminary labor agreement that would give pilots 50% cumulative pay increases over the life of the contract, a deal that could end years of tense negotiations. The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. In comparison, larger rival United Airlines ' new four-year pilot contract is worth about $10 billion, according to the aviators' union. Once the contract becomes amendable, Southwest pilots would get 2.5% annual bonuses until the airline and union reach a new agreement. FedEx pilots rejected an preliminary deal earlier this year, while UPS pilots' union is set to start negotiations in mid-2024.

Persons: Casey Murray Organizations: Southwest Airlines, Southwest, U.S, Southwest Airlines Pilots Association, CNBC, United Airlines, United, Delta, FedEx, UPS, U.S . Department of Transportation, Labor, Hollywood, United Auto Workers union Locations: Southwest

☆ American Airlines warns of higher third-quarter cost from new pilot contract
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

An American Airlines Airbus A321 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. Continued strength in travel demand has provided pilots an upper hand in contract talks and bolstered their bargaining power as airlines rush to staff up and expand capacity. Rival United Airlines (UAL.O) too had last month announced a preliminary deal for a new four-year contract that would give its pilots a cumulative increase of 34.5%-40.2% in pay. American Airlines now expects its cost per available seat mile excluding fuel and net special items to rise about 4% to 6%, compared with a prior forecast of about 2% to 4% growth. The company reaffirmed its annual cost outlook, mainly due to changes in the anticipated timing of other expenses.

Persons: Mike Blake, Shivansh, Anil D'Silva, Arun Koyyur Organizations: American Airlines Airbus, Los Angeles International, REUTERS, American Airlines, Rival United Airlines, Thomson Locations: Los Angeles , California, U.S, Bengaluru

☆ UPS workers approve massive new labor deal with big raises
▼ + stars: | 2023-08-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

UPS workers ratified a massive five-year labor deal that includes big wage increases and other improvements to work rules and schedules, the International Brotherhood of Teamsters said Tuesday. The deal passed with 86.3% of votes, the highest contract vote in the history of Teamsters at UPS, according to the union. The parties had until July 31, when the previous labor contract was set to expire, to reach a deal and avoid a work stoppage. Current workers will get $2.75 more an hour this year and $7.50 an hour more over the five-year contract. FedEx pilots turned down a tentative agreement for a new labor contract earlier this summer.

Persons: Sean O'Brien, Carol Tomé Organizations: International Brotherhood of Teamsters, Teamsters, UPS, Amazon, U.S . Chamber of Commerce, Workers, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, FedEx Locations: U.S

☆ American Airlines pilots approve new contract that boosts compensation by more than 46%
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Allied Pilots Association (APA), which represents 15,000 pilots at the Texas-based carrier, said on Monday that 72.7% of the pilots voted for the deal which will result in an immediate pay raise of more than 21%. Overall, compensation for pilots at the airline will rise by more than 46% during the contract's duration. With no letup in travel demand, airlines are in a rush to staff up, bolstering the bargaining power of pilots. Rival United Airlines (UAL.O) last month announced a preliminary deal for a new four-year contract that would give its pilots a cumulative increase of 34.5%-40.2% in pay. American's contract includes about $1.1 billion in immediate, one-time payments and ratification bonuses.

Persons: Brian Snyder, Ed Sicher, Sicher, Rajesh Kumar Singh, Allison Lampert, Matthew Lewis Organizations: American Airlines, Airport, REUTERS, Rights, Allied Pilots Association, Allied Pilots, Reuters, Jefferies, U.S, Rival United Airlines, Thomson Locations: Boston , Massachusetts, U.S, Texas, Chicago, Montreal

☆ American Airlines pilots approve sweetened labor deal with big raises
▼ + stars: | 2023-08-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An American Airlines plane takes off from the Miami International Airport on May 02, 2023 in Miami, Florida. American Airlines pilots approved a sweetened labor deal, making the carrier the second major U.S. airline to seal a new contract with its highest-paid work group. An earlier deal between American and the union fell apart after rival United Airlines and that carrier's union reached a richer, preliminary deal. American's pilots voted more than 72% in favor of the new contract, and there was a 95% turnout, according to the Allied Pilots Association. Delta Air Lines pilots ratified a new agreement earlier this year.

Persons: American's, Robert Isom Organizations: American Airlines, Miami International Airport, Miami , Florida . American Airlines, American, United Airlines, Allied Pilots Association, Delta Air Lines Locations: Miami , Florida, U.S

Economy seats account for 79.3% of seats between the U.S. and Europe, down from nearly 81.9% in 2018, before the pandemic, according to aviation data firm Cirium. Business-class seats' share of seats sold has grown slightly, from 12.9% to 13.5% though premium economy's share has increased even more, making up 6.4% of seats sold, up from 4.2% five years ago, while first class seats' share fell. Delta, JetBlue Airways , United Airlines , American Airlines , Finnair and Lufthansa are among the carriers that have recently announced upgraded first-class seats, suites with sliding doors or premium economy cabins. On rival United Airlines , a similar itinerary was nearly $1,850 in premium economy and $912 in standard coach. Business class easily tops $5,000 for that route.

Persons: DAL, Natalie Rasmussen, I'm, Rasmussen, Leslie Josephs, Edward Dryden, Delta Organizations: Airline, Delta Air Lines, Virgin Atlantic's, Virgin, U.S, JetBlue Airways, United Airlines, American Airlines, Finnair, Lufthansa, Singapore Airlines, CNBC, Collins Aerospace, Delta, Suites Locations: Europe, San Jose , California, London, Germany, Czech Republic, Delta, Emirates, New York, Paris

☆ American Airlines pilots reach deal to match gains at rival United
▼ + stars: | 2023-07-27 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

The Allied Pilots Association (APA), which represents over 15,000 American Airlines pilots, did not specify the value of the revised deal. The American Airlines revised deal also provides pilots full back pay for this year. In line with United's deal, pay increases for American Airlines' pilots will now take place on January 1 instead of May 2 as provided in the original deal. An American Airlines spokesperson described the revised deal as a contract that its pilots deserve. Southwest Airlines (LUV.N) is now the only major U.S. carrier that is without a new pilot contract deal.

Persons: Brian Snyder CHICAGO, Robert Isom, Rajesh Kumar Singh, Leslie Adler, Bill Berkrot, Jamie Freed Organizations: American Airlines, Airport, REUTERS, United Airlines, North American, Allied Pilots Association, American, United, Delta Air Lines, APA, Jefferies, Delta, United . Airline, Southwest Airlines, Thomson Locations: Boston , Massachusetts, U.S, United States

☆ American Airlines pilots' union accepts sweetened labor deal
▼ + stars: | 2023-07-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

American Airlines pilots' union said Thursday that they agreed to a sweetened offer for a new labor contract, less than two weeks after a richer deal at rival United Airlines derailed voting at American. "We appreciate the Allied Pilots Association for its collaborative work to reach an updated agreement on a four-year contract for American's pilots," American said in a statement. American's pilots would start voting on the new deal in August. The deal is the latest in the transportation industry where workers are seeking, and getting, higher wages. A shortage of pilots has emboldened unions to seek bigger raises and other improvements after the pandemic stalled negotiations.

Persons: Robert Isom Organizations: American Airlines, United Airlines, American, Delta Air Lines, Allied Pilots Association, UPS, International Brotherhood of Teamsters, Workers Locations: U.S

☆ American Airlines boosts pilot contract offer by $1 billion after United deal
▼ + stars: | 2023-07-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An American Airlines plane takes off from the Miami International Airport on May 02, 2023 in Miami, Florida. American Airlines raised its offer for a new pilot contract by more than $1 billion to match a preliminary deal last week between rival United Airlines and that carrier's aviators. Airlines and pilot unions had been negotiating new deals for years. Delta Air Lines pilots approved a new agreement in March for a deal that includes 34% raises over four years. The new offer includes 21% pay bonuses and pay on par with United and Delta, the Allied Pilots Association, their union, said Friday.

Persons: Robert Isom, Ed Sicher, Isom Organizations: American Airlines, Miami International Airport, Miami , Florida . American Airlines, United Airlines, United, . Airlines, Unions, Delta Air Lines, Delta, Allied Pilots Association Locations: Miami , Florida

☆ American Airlines earnings outlook disappoints, shares fall
▼ + stars: | 2023-07-20 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +1 min

July 20 (Reuters) - Shares of American Airlines (AAL.O) fell on Thursday as its outlook for the second half of the year disappointed investors even as the company lifted its full-year profit forecast and posted higher-than-expected quarterly earnings. American forecast adjusted profit of $3.00 to $3.75 per share for 2023 compared with its prior outlook of $2.50 to $3.50 per share. But some analysts said the outlook suggested a slowdown in the company's earnings in the second half compared with the first six months of the year. American's revenue forecast also suggested airline ticket prices for domestic travel have peaked, fueling worries about the company's ability to offset cost pressure. Adjusted earnings for the second quarter came in at $1.92 per share, above analysts' consensus earnings estimate of $1.59, according to a Refinitiv survey.

Persons: Stephen Trent, American's, Robert Isom, Shivansh, Arun Koyyur, Stephen Coates Organizations: American Airlines, Citi, United Airlines, Thomson Locations: Bengaluru

☆ Alaska Air posts bigger-than-expected loss as costs mount
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

April 20 (Reuters) - Alaska Air Group (ALK.N) on Thursday reported a bigger-than-expected quarterly loss as higher expenses related to labor and fuel dented the carrier's margins. Earlier this month, American Airlines Group Inc (AAL.O) forecast first-quarter profit below market expectations, joining rival United Airlines Holdings Inc (UAL.O) in signaling a hit from increasing costs. In January, Alaska Air warned that it would face pressures from higher labor costs and expenses related to pilot training as it phases out Airbus SE (AIR.PA) jets in favor of Boeing Co (BA.N) planes. Shares of Alaska Air fell 1.49% in premarket trading on Thursday after the company forecast second-quarter cost per available seat mile (CASM), excluding fuel, to rise between 1% and 3%. Reporting by Aishwarya Nair in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Delta Air Lines' profit miss on higher fuel costs clouds strong forecast
▼ + stars: | 2023-04-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, April 13 (Reuters) - Delta Air Lines (DAL.N) on Thursday forecast higher-than-expected profit for the current quarter, citing "record" bookings for summer travel, even as the carrier missed first-quarter profit estimates due to higher fuel and labor costs. Rivals American Airlines and United Airlines were down about 1%. American Airlines (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining rival United Airlines (UAL.O) in signaling a hit from higher costs. U.S. carriers have tried to leverage travel demand with higher ticket prices to offset rising labor and fuel bills. For the June quarter, Delta expects its revenue to rise 15% to 17% from a year earlier on capacity growth of 17%.

☆ Delta Air offers bullish outlook on international travel demand
▼ + stars: | 2023-04-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, April 13 (Reuters) - Delta Air Lines (DAL.N) on Thursday forecast higher-than-expected profit for the second quarter, citing "record" bookings for summer travel, including strong demand for international trips. "Consumers are anxious to travel," he said, adding that demand for international travel was especially strong this summer and travelers were booking trips well in advance. Travel demand in the United States is currently strong but rising interest rates, persistently high inflation, mounting job losses and a turmoil in the banking industry have cast a shadow over consumer spending. Delta expects an adjusted profit of $2.00 to $2.25 per share in the second quarter, with an operating margin of 14% to 16%. Delta retained its full-year earnings forecast after reporting adjusted profit for the first quarter of 25 cents a share, below 30 cents a share expected by analysts.

☆ American Airlines profit forecast disappoints; shares tumble
▼ + stars: | 2023-04-12 | by ( Aishwarya Nair | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - American Airlines Group Inc (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining rival United Airlines (UAL.O) in signaling a hit from persistently high labor and fuel costs. "We had expected American to come in towards the better end in a similar manner as JetBlue's guidance update provided in mid-March," Syth added. Airlines' shares in 2023The airline industry has been able to survive the broader economic slowdown in the United States, thanks also to tight airline capacity due to shortages of aircraft and spare parts. On an adjusted basis, it forecast a quarterly per-share profit of between 1 cent and 5 cents, compared with its previous forecast of a near break-even. Southwest Airlines Co (LUV.N) closed down 1.4%, United was down 6.5% and Delta was down 2.4%.

☆ American Airlines signals profit hit from rising labor, fuel costs
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

April 12 (Reuters) - American Airlines Group Inc (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining bigger rival United Airlines (UAL.O) to signal a hit from persistently high labor and fuel costs. The dull outlook pushed its shares more than 8% lower and weighed on other major U.S. airlines. Higher fares amid rising global travel have so far helped the airlines industry mitigate rising costs, but concerns over the sustainability of consumer demand have gained ground against the backdrop of high borrowing costs, inflation and job losses. American had in January said that its fuel price has increased by nearly 70%. However, on an adjusted basis, it forecast quarterly profit per share between 1 and 5 cents compared to analysts' expectation of 6 cents, according to Refinitiv data.

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