- United Airlines Holdings Inc (NASDAQ:UAL) pilots have voted to approve a tentative agreement (TA) on modified terms for their collective bargaining agreement.
- The United Master Executive Council represents 14,000 UAL pilots, as represented by the Air Line Pilots Association, Int’l (ALPA).
- The tentative agreement highlights three pay rate increases totaling more than 14.5% within 18 months, retroactive to the start of 2022.
- It also includes enhanced overtime compensation and premium pay, a new 8-week paid maternity leave benefit, and new quality of life improvements to provide increased pilot schedule flexibility.
- Also Read: Raymond James Cuts United Airlines Price Target By ~23%
- ALPA said the tentative deal will now be sent out to the membership for ratification.
- If ratified will generate an additional $1.3 billion of value for United pilots over the course of the two-year agreement.
- “This agreement raises the bar for all airline pilots and leads the industry forward,” said Capt. Michael Hamilton, Chair of ALPA’s United pilot group.
- Price Action: UAL shares are trading higher by 6.34% at $38.08 on the last check Friday.
- Photo Via Wikimedia Commons
