American Airlines Faces Voting Delay For Pilot Contract Offer For 'Indefinite Time': Report

Comments
Loading...

American Airlines Group Inc AAL reportedly disclosed that the pilot union postponed the ratification vote for a tentative agreement indefinitely.

The voting on the current deal was set to commence on Monday for American's pilots.

As per the union, the voting will occur "at a date and time to be determined," reported Reuters.

Last week, AAL agreed to increase its pilot contract offer by over a billion dollars, aligning it with a tentative agreement reached by competitor United Airlines Holdings Inc UAL and its pilots.

The revised offer from American Airlines would elevate the value of the four-year offer to approximately $9 billion, putting it in line with United's pay rates and covering backpay and other benefits, including sick time and life insurance. 

Also ReadAmerican Airlines Q2 Results Exceed Expectations, Raises FY23 Outlook

Price Action: AAL shares are trading lower by 1.24% at $16.67 premarket on the last check Tuesday.

AAL Logo
AALAmerican Airlines Group Inc
$10.16-1.36%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum27.84
Growth89.58
Quality-
Value43.85
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In: