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United Airways (NASDAQ: UAL) and its pilots have signed a brand new four-year labor settlement after 4 years of powerful negotiations.
The Airline Pilots Affiliation should ratify the deal, however the union valued it at about $10 billionand that features pilot raises of as much as 40% over 4 years, in addition to job safety ensures and pension advantages – stressing some airline employees amid a speedy restoration in earnings.
And the union stated it will put United pilots on par with Delta Air Traces (DAL), whose pilots are additionally represented by ALPA.
It is a “historic settlement,” union chairman Garth Thompson stated, whereas United CEO Scott Kirby stated: “We promised our world-class pilots the very best contract they deserve, and we’re happy to have reached an settlement with ALPA on this matter.”
Voting on the pilot contract ought to start on July 24.
United Airways ( UAL ) is scheduled to report earnings on Wednesday, and Wall Road is anticipating earnings per share of $4.05 on income of $13.93 billion (up 15% year-over-year).
