American Airlines hands out double-digit pay raises to 30,000 workers
Source: Dallas Morning News
Nearly a third of American Airlines workforce woke up to a happy surprise Friday morning -- theyre getting raises worth 15 percent to 55 percent, effective immediately, that will give them the highest hourly rates of the major U.S. network carriers.
The deal announced between the Fort Worth-based airline and the TWU-IAM Association covers 30,000 mechanics and ground workers who are currently in negotiations for a new contract. It's expected to cost American an additional $195 million through the end of the year, according to a filing with the U.S. Securities and Exchange Commission.
After years of stagnant wage growth following a decade of bankruptcies and mergers, carriers have enjoyed sky-high profits in recent years -- American earned $950 million in its most recent quarter -- largely due to low fuel costs. Some of those earnings have been returned to workers through new labor contracts.
While pay increases of 20 percent or more aren't unheard of in the industry, they're usually spread out over multiple years of the contract.
Read more: http://www.dallasnews.com/business/airline-industry/20160805-american-airlines-hands-out-double-digit-pay-raises-to-30000-workers.ece
shenmue
(38,506 posts)Johnyawl
(3,205 posts)...the American worker started benefiting from this economy!
msongs
(67,406 posts)Cooley Hurd
(26,877 posts)..it was mgmt.
SwankyXomb
(2,030 posts)to where they were before all the bankruptcy clawbacks?
BlueCollar
(3,859 posts)We are asking...even this doesn't get us back to where we were thirteen years ago
crim son
(27,464 posts)I avoid AA whenever possible.
Cooley Hurd
(26,877 posts)kimbutgar
(21,148 posts)I hope the union members can use this as leverage to get United to settle.
LonePirate
(13,424 posts)Brickbat
(19,339 posts)It's the result of a collectively bargained contract. What a shitty headline.
JCanete
(5,272 posts)Yavin4
(35,438 posts)SheilaT
(23,156 posts)Former airline employee here, and I know from my friends who stayed in the business that their wages were totally stagnant and in many cases cut during the 90's and into the 2000's. Meanwhile, I don't think the executive suite gave up any raises.
BadGimp
(4,015 posts)eom
FreeStateDemocrat
(2,654 posts)If minimum wage should be $15, that equates to $31200 a year for full time and that is a required living wage, then Social Security recipients need a $30,000 a year living wage too!!!
YOHABLO
(7,358 posts)YOHABLO
(7,358 posts)BlueCollar
(3,859 posts)....