financetom
Economy
financetom
/
Economy
/
Union rejects American Airlines' latest proposal offering 17% wage hikes
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Union rejects American Airlines' latest proposal offering 17% wage hikes
Jun 5, 2024 5:40 PM

CHICAGO (Reuters) - The Association of Professional Flight Attendants (APFA), which represents over 23,000 American flight attendants, said on Wednesday that it unanimously rejects the latest proposal from American Airlines ( AAL ).

The airline had offered its flights attendants immediate wage increases of 17% and a new formula for higher profit sharing in 2024 in their new contracts, CEO Robert Isom said earlier in the day.

The union said the latest offer of a raise comes without reaching an agreement on a complete contract, adding that "American Airlines Flight Attendants want and need a complete contract addressing all our concerns."

"We have a strike vote authorization of 99.47 percent, have picketed for months, and have demonstrated our resolve and solidarity. Our message has been crystal clear: we need an industry-leading contract," the APFA said.

The current round of negotiations started in January 2020 but was paused at the height of the pandemic. Talks resumed in June 2021.

The union has asked its workers to prepare for a strike after the negotiations last month failed to produce an agreement.

American Airlines' ( AAL ) flight attendants say they have not had a pay raise in over five years and have asked for an immediate raise of about 33%. Union officials say flight attendants have endured a lot since the pandemic - notably unruly passengers resisting the controversial mask mandate on planes.

The two sides are due to resume negotiations next week. The APFA has requested a release from federally mediated negotiations, saying American's offers "continue to fall far short of addressing the current economic environment."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tougher US credit conditions may help pave Fed's rate-cut path
Tougher US credit conditions may help pave Fed's rate-cut path
Jul 31, 2024
(Reuters) - Benign inflation data and a cooling job market aside, U.S. credit conditions featuring tepid loan demand and stiff terms may also be bolstering confidence among Federal Reserve officials that price pressures are set to ease further, paving the way for interest rate cuts in coming months. U.S. central bankers will have the latest readings from a quarterly survey...
DoubleLine sounds alarm on US government debt spiralling higher
DoubleLine sounds alarm on US government debt spiralling higher
Jul 31, 2024
NEW YORK (Reuters) - Higher debt payments and the possibility of a U.S. recession over the next 10 years could boost U.S. debt levels beyond recent forecasts and weigh on economic growth, an analyst at investment firm DoubleLine said. The U.S. government has expanded deficit spending during economic downturns over the past century, but since 2016 deficits have increased despite...
Fed expected to hold rates steady, open door to September cut
Fed expected to hold rates steady, open door to September cut
Jul 31, 2024
WASHINGTON (Reuters) - The Federal Reserve is expected to leave interest rates unchanged at the end of a two-day policy meeting on Wednesday, but also indicate that a reduction in borrowing costs could come as soon as September. Contracts tied to the U.S. central bank's policy rate show investors are convinced a rate cut will happen at the Sept. 17-18...
Kamala Harris vows to combat price gouging, bring down costs
Kamala Harris vows to combat price gouging, bring down costs
Jul 30, 2024
ATLANTA (Reuters) - U.S. Vice President Kamala Harris pledged to battle price gouging, bring down costs and ban hidden bank fees if she wins a Nov. 5 general election in which she is the Democrats' likely presidential nominee. On day one, I will take on price gouging and bring down costs, Harris told a political rally in Atlanta. We will...
Copyright 2023-2026 - www.financetom.com All Rights Reserved