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☆ Auto supplier Magna to invest $790 mln to build three new facilities
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

July 20 (Reuters) - Canadian auto parts maker Magna International Inc (MG.TO) said on Thursday it will invest $790 million to build three new supplier facilities, two of which will be housed at Ford Motor Co's (F.N) BlueOval City campus in Tennessee. The development comes as suppliers race to meet requirements from automakers, who have been hustling to boost their electric vehicle output as demand for environmentally friendly vehicles surges. Magna's facilities will support production of Ford's second-generation electric truck, the Canadian company said in a statement. Ford in March said it plans to build up to 500,000 electric trucks a year at its BlueOval City complex under construction. A third Magna facility in Lawrenceburg will produce vehicle frames, the company said.

Persons: Ford's, Magna, Priyamvada, Nivedita Organizations: Magna International Inc, Ford Motor, Ford, Thomson Locations: BlueOval City, Tennessee, Ford's, BlueOval, Detroit, Lawrenceburg, Bengaluru

A strike could be one of the costliest in at least a century, with the impact of a 10-day strike topping $7 billion, according to one think tank. UPS pilots, who belong to a different union, would also stop flying in solidarity with the striking workers. The Teamsters have been holding "practice pickets" in major cities around the country to keep pressure on UPS. On the other hand, UPS is the largest employer of Teamsters at a time when unions are fighting to grow. "We believe an August 1 strike at UPS remains possible but not yet probable," Susquehanna analyst Bascome Majors said in a client note.

Persons: Mike Blake, Sean O'Brien, Joe Biden, Bascome Majors, Lisa Baertlein, Priyamvada, David Shepardson, Chris Reese, Josie Kao Organizations: teamsters, UPS, REUTERS, United Parcel Service, Teamsters, International Brotherhood of Teamsters, Twitter, Reuters, Thomson Locations: L.A, Los Angeles , California, U.S, United States, Susquehanna, Los Angeles, Bengaluru, Washington

☆ FedEx appoints new CFO
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Signage is seen on a FedEx location in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew KellyJuly 17 (Reuters) - FedEx Corp (FDX.N) on Monday appointed former CEO of Atlas Air Worldwide John Dietrich as chief financial officer, effective Aug. 1. FedEx said Dietrich, a veteran in the aviation and air cargo space, has held numerous leadership roles at Atlas Air Worldwide since 1999. The development comes months after the company outlined $4 billion in permanent cost cuts by the end of its 2025 financial year. Last fiscal year, FedEx slashed about 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries.

Persons: Andrew Kelly, John Dietrich, Michael Lenz, Dietrich, Priyamvada, Devika Syamnath Organizations: FedEx, REUTERS, FedEx Corp, Monday, Atlas Air, Atlas Air Worldwide, Thomson Locations: Manhattan , New York City, U.S, Memphis, Bengaluru

That estimate from Michigan-based Anderson Economic Group (AEG) includes UPS customer losses of $4 billion and lost direct wages of more than $1 billion. A 15-day UPS strike in 1997 disrupted the supply of goods, cost the world's biggest parcel delivery firm $850 million and sent some customers to rivals like FedEx (FDX.N). Roughly 340,000 union-represented UPS workers handle about a quarter of U.S. parcel deliveries and serve virtually every city and town in the nation. A strike could delay millions of daily deliveries, including Amazon.com (AMZN.O) orders, electronic components and lifesaving prescription drugs, shipping experts warned. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike that shut down its profitable U.S. operations.

Persons: Patrick Anderson, Anderson, GM's, Bruce Chan, Chan, Lisa Baertlein, Priyamvada, Pooja Desai, Jonathan Oatis, David Gregorio Our Organizations: United Parcel Service, Anderson Economic Group, AEG, UPS, FedEx, stoke, International Brotherhood of Teamsters, Teamsters, Consumers, UAW, Teamster, Thomson Locations: U.S, Michigan, Los Angeles, Bengaluru

☆ Potential UPS strike could cost customers over $4 bln - report
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: 1 min

July 13 (Reuters) - A potential strike by about 340,000 workers of The Teamsters Union against United Parcel Service (UPS.N) could cause its customers to incur losses in excess of $4 billion, according to an analysis released by a consulting firm on Thursday. A 10-day strike would likely furlough those workers who are currently earning annual wages of about $90,000 per year (excluding benefits), resulting in wage losses of $1.1 billion, Anderson Economic Group said. Reporting by Priyamvada C in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada, Pooja Desai Organizations: The Teamsters Union, United Parcel Service, Anderson Economic, Thomson Locations: Bengaluru

☆ GM buys Israel-based software startup to detect early battery defects
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - General Motors (GM.N) said on Friday it had acquired Algolion Ltd, an Israel-based software startup that helps detect problems in batteries. GM said Algolion's software will help the Detroit automaker bring to the market a "cost-effective" early hazard detection system at a quicker pace. It also comes as safety authorities urge U.S. automakers to improve battery standards after a series of events where vehicles have caught fire due to defective modules. Algolion has developed a software that uses data from EV battery management systems to help identify anomalies in cell performance and provide early detection of battery hazards including "thermal runaway propagation events", GM said. A thermal runaway is a rapid and unstoppable increase in temperature that leads to fires in EVs.

Persons: Priyamvada, Maju Samuel Organizations: General Motors, Algolion Ltd, GM, Detroit, U.S, EV, GM's, Thomson Locations: Israel, EVs, Herzliya, Bengaluru

☆ UPS working with experts after phishing attack on some shippers, customers
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - United Parcel Service (UPS.N) said on Wednesday it is working with law officials and outside experts following reports of phishing messages that were sent via text messages to certain shippers and their customers in Canada. The package delivery company did not disclose the number of customers and shippers impacted. "Law enforcement has indicated that there has been an increase in smishing (SMS phishing), impacting a number of shippers and many different industries," UPS said in an emailed statement. UPS said it was sending privacy incident notification letters to individuals in Canada whose information may have been impacted. Reporting by Priyamvada C and Aishwarya Nair in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada C, Aishwarya Nair, Shilpi Majumdar Organizations: United Parcel Service, UPS, Security, Thomson Locations: Canada, U.S, Bengaluru

☆ PE firm Arcline tops KKR's offer for Circor as bidding war intensifies
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

June 28 (Reuters) - Private equity firm Arcline Investment Management on Wednesday proposed to buy Circor International (CIR.N) for $57 per share in cash, topping a rival bid from KKR & Co (KKR.N) for the industrial machinery maker. Circor, which makes flow-control products to help manage and control liquids and gases, did not respond to a Reuters request for comment. Arcline's funds own a direct competitor of Circor called Fairbanks Morse Defense, a provider of diesel engines and equipment to the U.S. Navy, KKR said. It said its bid was supported by financing from BMO Capital Markets Corp and Bank of Montreal. Circor too had said on Tuesday that KKR offered more financing certainty as well as a clearer and faster path to antitrust approvals.

Persons: Arcline, Circor, Priyamvada, Pratyush Thakur, Dhanya Ann Thoppil, Anil D'Silva, Arun Koyyur Organizations: Arcline Investment Management, Circor, KKR & Co, KKR, Fairbanks Morse Defense, U.S . Navy, Defense Industrial Base, BMO Capital Markets Corp, Bank of Montreal, BMO Capital Markets, Thomson Locations: Circor, Bengaluru

☆ Ford to cut jobs in the US, Canada to trim costs
▼ + stars: | 2023-06-27 | by ( Aishwarya Nair | ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Ford Motor Co (F.N) said on Tuesday it will begin layoffs this week, impacting mostly engineering jobs in the U.S. and Canada, as part of the Detroit automaker's move to exit unprofitable locations and cut headcount. The development comes after the company said in May it expects to take up restructuring charges between $1.5 billion and $2 billion in 2023. "This is related to the Ford+ growth plan we introduced in 2021," the company added. CNBC reported on Monday job cuts were expected to affect all three of Ford's business units - Ford Blue, Model e and Ford Pro. In February, Ford also detailed plans to eliminate 3,800 product development and administration jobs in Europe in the next three years.

Persons: Ford, Stellantis, Jim Farley, Aishwarya Nair, Priyamvada, Krishna Chandra Organizations: Ford Motor, Detroit, Street Journal, General Motors, CNBC, Ford, Ford Pro, Thomson Locations: U.S, Canada, North America, Europe, Bengaluru

☆ Booking.com to launch trip planner partially powered by tech behind ChatGPT
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Booking.com (BKNG.O) said on Tuesday it would test a trip planner, partially powered by ChatGPT's large language model, on its travel booking app that would allow select travelers in the U.S. to pose queries and create itineraries. "Our new AI Trip Planner provides us with some really exciting possibilities to help our customers plan and search for travel options in a very natural, human way," Booking.com's technology chief Rob Francis said in a statement. The technology, known as generative AI, has taken the tech world by storm and pushed many companies to explore its uses. An early version of the trip planner will become available to some of Booking.com's loyalty program "Genius" members in the United States over the coming weeks. Reporting by Priyamvada C and Shivansh Tiwary in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Rob Francis, Expedia, Priyamvada, Shilpi Majumdar Organizations: Thomson Locations: U.S, San Francisco, United States, Bengaluru

☆ FedEx paring costs, grounding more planes as margin pressure persists
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

The global shipping downturn has hurt margins for the sector and FedEx's challenge is matching costs and capacity to lower demand. Last fiscal year, FedEx slashed 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries in a bid to cut $4 billion in permanent costs by the end of its 2025 financial year. For fiscal 2024, FedEx forecast flat to low-single-digit-percent revenue growth versus the prior year. The company said it would buy back $2 million of its common stock in the new fiscal year. He will remain a senior adviser to the company until Dec 31.

Persons: Raj Subramaniam, Michael Lenz, Priyamvada, Lisa Baertlein, Matthew Lewis, Cynthia Osterman, Jamie Freed Organizations: FedEx, Express, Thomson Locations: Bengaluru, Los Angeles

☆ FedEx profit falls on lower e-commerce demand
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - FedEx (FDX.N) on Tuesday reported a fall in quarterly adjusted profit after a bigger-than-expected drop in e-commerce delivery demand offset its $4 billion cost-cutting plan aimed at sheltering margins. The deflating e-commerce delivery bubble, recession risks and pressure from an activist investor pushed Tennessee-based FedEx to begin slashing fixed costs in a bid to protect margins. While the global shipping downturn has been a margin drag for most operators in the sector, FedEx also faces a balancing act of matching costs and capacity with waning demand. The company posted an adjusted profit of $4.94 per share for the fourth quarter ended May 31, compared with $6.87 per share a year earlier. Reporting by Priyamvada C in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada, Devika Organizations: FedEx, Thomson Locations: Tennessee, Bengaluru

☆ United Air CEO sees pilot deal adding over $8 bln in costs - Bloomberg News
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

The move comes at a time when pilots in North America are pushing for better pay and working conditions during their talks with company managements over new employment contracts. Delta Air Lines' (DAL.N) landmark pilots contract, which offers $7 billion in higher pay and benefits in March has put pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. United's CEO Scott Kirby told Bloomberg News that the company has been negotiating weekly to reach a formal agreement with the union. United did not immediately respond to a Reuters request for comment. Reporting by Priyamvada C in Bengaluru; Editing by Shilpi Majumdar and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Scott Kirby, Priyamvada, Shilpi Majumdar, Shailesh Organizations: United Airlines Holdings Inc, Bloomberg, Delta Air Lines, Bloomberg News, Thomson Locations: U.S, North America, Bengaluru

☆ United Air expects new pilot offer to add over $8 bln in costs
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

Delta Air Lines' (DAL.N) landmark pilots contract in March, which offers $7 billion in higher pay and benefits, has put pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. Earlier this month, the company's pilots union voted to authorize a strike vote - a bargaining tactic unions have been using in contract negotiations. However, Kirby did not reveal details included in the proposal, other than to say United would top the recent deals agreed to by its two biggest rivals. "We have disagreed with the company on the costing of items and they, in our opinion, have inflated many. Meanwhile, shares of United Airlines rose 3.5% in afternoon trade, benefiting from broader market gains.

Persons: Scott Kirby, Kirby, Priyamvada C, Nathan Gomes, Allison Lampert, Shilpi Majumdar, Shailesh Kuber, Pooja Desai Organizations: United Airlines Holdings Inc, Delta Air Lines, Bloomberg, Air Line Pilots Association, Reuters, United Airlines, Thomson Locations: North America, Chicago

Companies Carvana Co FollowJune 9 (Reuters) - Shares of used-car retailer Carvana Co (CVNA.N) tumbled 12.5% in afternoon trading on Friday, as analysts suspect that the debt-laden company's upbeat second-quarter profit forecast is a 'one-time' upside. Carvana, known for its car-vending machines, said it sold or securitized loans worth about $2 billion as of June 8, compared with $1.3 billion sold or securitized as of May 4. Analysts also echoed worries about Carvana's plans to profitably return to growth given the existing debt load. Last month, Carvana said it expects to post a profit in the current-quarter and planned to further bring down excess used-car inventory. "Volume is still decreasing year-over-year," Carvana chief Ernest C. Garcia said in a conference on Thursday.

Persons: Michael Baker, Davidson, Carvana, Brad Erickson, Ernest C, Garcia, Priyamvada, Shinjini Organizations: Carvana, RBC, Thomson Locations: receivables, 4Q22, 1Q23, Bengaluru

June 5 (Reuters) - Tighter lending standards from regional banks are making it harder for U.S. hotel developers to secure funding, slowing construction of new hotels at a time Americans' appetite for travel is ripe. Analysts say slower hotel development will also limit profits of blue-chip manufacturers like Caterpillar Inc. , whose commercial real estate customers account for around 75% of construction sales. Overexposed regional banks are now offloading commercial real estate loans at a discount. Troubled regional lender PacWest Bancorp (PACW.O) announced in May it would sell $2.6 billion worth of real estate construction loans. Banks started to reduce their hotel loan portfolios in the first quarter of 2023, an analysis by S&P Global Market Intelligence found.

Persons: Joseph Delli Santi, James Hansen, Andy Ingraham, Ingraham, Evens Charles, Banks, Mitchell Hochberg, Bianca Flowers, Caroline Stauffer, Deepa Babington Organizations: U.S, Silicon Valley Bank, Shopoff, Reuters, Build Central Inc, Hilton, Hilton Worldwide Holdings Inc, Marriott International, Caterpillar Inc, Signature Bank, First Republic Bank, National Association of Black, Developers, Frontier Development, Hospitality Group, Washington D.C, PacWest Bancorp, P Global Market Intelligence, Lightstone, Thomson Locations: Silicon, California, Florida , Texas, Washington, Arizona, New York, Chicago, Bengaluru

[1/3] A Chevrolet 2020 heavy-duty pickup truck is seen at the General Motors Flint Assembly Plant in Flint, Michigan, U.S. February 5, 2019. GM has outlined this year a total of $1.7 billion in investments in Flint facilities to support the next generation of its heavy duty pickups. GM said it will spend $579 million at its Flint Engine Operations to produce a sixth generation of its small block V-8 combustion engine. Another $103.5 million will be spent upgrading a separate Flint facility that supports truck production. GM expects to start bargaining with the United Auto Workers union for a new contract with a deadline of Sept. 14 to reach an agreement with it U.S. production workers.

Persons: Rebecca Cook, Ram, Mike Booth, Shawn Fain, Fain, Priyamvada, Shilpi Majumdar, David Gregorio Our Organizations: General Motors, REUTERS, General Motors Co, GM, Ford Motor, Detroit Three, United Auto Workers, Investment, UAW, Thomson Locations: Flint , Michigan, U.S, Flint, Kokomo , Indiana, Kokomo, Asia, Bengaluru

☆ KKR to take machinery maker Circor private in $1.6-bln deal
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - KKR & Co Inc (KKR.N) said on Monday it will buy industrial machinery maker Circor International Inc (CIR.N) in a $1.6-billion deal and take it private, as the private equity firm looks to double down on investments in the flow-control market. Flow-control products help manage and control liquids and gases using equipment or services such as pumps, valves, compressors and meters. Circor, which has about 3,100 employees, makes pump and valve systems for sectors including oil and gas, industrial, aerospace and defense. "KKR will help us expand our presence in the flow-control space," Circor's Chief Executive Officer Tony Najjar said. Evercore, J.P. Morgan Securities LLC and Ropes & Gray LLP advised Circor, while Citi and Kirkland & Ellis LLP were KKR's advisers.

Persons: Tony Najjar, Gray, Circor, Ellis, Nathan Gomes, Priyamvada, Savio D'Souza, Shinjini, Shounak Organizations: KKR, Co Inc, Circor, U.S . Department of Defense, Street Journal, Morgan Securities LLC, Ropes, Gray LLP, Citi, Kirkland, Ellis LLP, Thomson Locations: J.P, Bengaluru

Persons: Joseph Delli Santi, James Hansen, Andy Ingraham, Ingraham, Evens Charles, Banks, Mitchell Hochberg, Bianca Flowers, Caroline Stauffer, Deepa Babington Organizations: U.S, Silicon Valley Bank, Shopoff, Reuters, Build Central Inc, Hilton, Hilton Worldwide Holdings Inc, Marriott International, Caterpillar Inc, Signature Bank, First Republic Bank, National Association of Black, Developers, Frontier Development, Hospitality Group, Washington D.C, PacWest Bancorp, P Global Market Intelligence, Western Alliance, Lightstone, Thomson Locations: Silicon, California, Florida , Texas, Washington, Arizona, New York, Chicago, Bengaluru

June 2 (Reuters) - 3M Co (MMM.N) has struck a tentative settlement of at least $10 billion with a host of U.S. cities and towns to resolve water pollution claims tied to "forever chemicals," Bloomberg News reported on Friday, citing people familiar with the matter. 3M was scheduled to face trial on Monday against the City of Stuart, Florida. The city has said it is seeking more than $100 million from 3M to pay for water filtration and soil remediation. Litigation over them threatens companies like 3M, DuPont and others with billions of dollars in liabilities. The city claims firefighting foams containing PFAS were regularly sprayed at a local fire station, leading the chemicals to seep into the groundwater.

Persons: DuPont de Nemours Inc DD.N, CTVA.N, Stuart, Priyamvada, Clark Mindock, Brendan Pierson, Devika Syamnath, Alexia Garamfalvi, Matthew Lewis Organizations: Bloomberg, Reuters, DuPont de Nemours Inc, City, 3M, DuPont, Thomson Locations: U.S, DuPont, Stuart , Florida, South Carolina, West Palm Beach , Florida, Bengaluru, New York

☆ GM, POSCO Future M to boost investment at Canada battery materials plant
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - General Motors Co (GM.N) and South Korea's POSCO Future M said on Friday they will invest more to boost production at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion. The companies said the new investment includes an additional CAM and a precursor facility for local on-site processing of critical minerals. The development comes a few days after the Canada's federal government and the Quebec province each provided about C$150 million ($112 million) for the facility. The companies last year established Ultium CAM joint venture, which is majority owned by POSCO Future M, and had initially invested about $327 million, according to media reports. Their battery facility in Becancour, Quebec, will produce cathode active material (CAM) for electric vehicle (EV) batteries.

Persons: Priyamvada, Shinjini Organizations: General Motors Co, POSCO, Thomson Locations: Canada, Quebec, Becancour, Bengaluru

☆ 3M reaches tentative pollution settlement of at least $10 bln - Bloomberg News
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - 3M Co (MMM.N) has struck a tentative settlement of at least $10 billion with a host of U.S. cities and towns to resolve water pollution claims tied to "forever chemicals", Bloomberg News reported on Friday, citing people familiar with the matter. Shares of 3M were up about 9% in afternoon trade. Last month, the Dutch government said it would hold 3M liable for polluting the Western Scheldt river with perfluoroalkyl and polyfluoroalkyl substances (PFAS) - dubbed "forever chemicals" because they can last thousands of years in nature without degrading. 3M did not immediately respond to a Reuters request for comment on the report. Reporting by Priyamvada C in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada, Devika Organizations: Bloomberg, Chemours, DuPont de Nemours Inc, Corteva Inc, Thomson Locations: U.S, perfluoroalkyl, Bengaluru

☆ FedEx reaches tentative deal with pilot union
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 30 (Reuters) - FedEx Corp (FDX.N) has reached a tentative agreement with pilots of its air delivery unit who had voted in favor of a strike earlier this month seeking higher pay, the package delivery company said in a statement on Tuesday. The Air Line Pilots Association (ALPA) had voted "overwhelmingly" in favor of a strike if needed, when it had entered the final stages of a contract negotiation with the company. FedEx did not provide any further details on the agreement. The agreement prevents a possible strike after 99% of about 6,000 FedEx Express pilots that ALPA represents voted in favor of one, as they asked the company to meet recently improved industry standards for pilot pay. Reporting by Bharat Govind Gautam and Priyamvada C in Bengaluru; Editing by Shailesh Kuber and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: ALPA, Bharat Govind Gautam, Priyamvada, Shailesh Kuber, Sherry Jacob, Phillips Organizations: FedEx Corp, Air Line Pilots Association, FedEx, FedEx Express, Thomson Locations: Bengaluru

☆ Binance names Teng as head of regional markets outside US
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

May 29 (Reuters) - Binance has appointed Richard Teng to head its regional markets outside the United States, at a time when the world's largest cryptocurrency exchange has been facing scrutiny from U.S. regulators over compliance issues. Teng, who revealed his promotion on his LinkedIn profile, is already heading regions like Asia, Europe and the Middle East. He joined Binance as CEO of Singapore in August 2021. Before joining Binance, Teng held positions in various financial institutions such as Singapore Exchange Ltd, Monetary Authority of Singapore and Abu Dhabi Global Market. Reporting by Priyamvada C in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Pilots, airlines seek to strike new contracts ahead of peak travel season
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

SOUTHWEST AIRLINES CO (LUV.N):The Southwest Airlines Pilots Association (SWAPA) in May said its members at the company approved a strike mandate. It added that 98% of its members participated in the vote and 99% voted in favor of authorizing a strike. UNITED AIRLINES HOLDINGS INC (UAL.O):Last year, ALPA said 94% of the nearly 10,000 United Airlines pilots voted to reject a contract offer. SPIRIT AIRLINES INC (SAVE.N):In January, ALPA said pilots at Spirit Airlines voted to ratify a new contract. More than 97% of the union members took part in the vote and 99% of them authorized union leaders to call a strike, if needed.

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