American Airlines Pilot Poised To Receive 19% Pay Hike Over Two Years

American Airlines Group Inc AAL has offered to increase the pay for its pilot by 19% over two years in a new contract.
American pilots will get a 12% raise when the contract is signed, with another 5% hike after a year and another 2% after two years.
The latest proposal compares the company's June offer to hike base pay by about 17% through 2024, which could cost the airline more than $2 billion, Reuters reported citing a draft agreement.
The American Airlines pilot union board has yet to review and approve the draft agreement.
Also Read: American Airlines Plans To Do Away With First-Class Seats On International Flights.
If approved, the hike could act as a benchmark for contract negotiations at rivals United Airlines Holdings Inc UAL and Delta Air Lines Inc DAL.
American Airlines has also offered another up to 3% increase in pay rates to match any salary increases at United and Delta.
Last week, American Airlines reported 50% Revenue Growth In Q3, Aided By the Pandemic Recovery.
Price Action: AAL shares closed at $14.29 on Thursday.