AirwayBlocker
10th Dec 2007, 06:46
The following is an extract from Fortune Magazine.
SAA management would never do this though....:}
Something funny is happening in the aviation industry: Airlines are making money again. But while that's good news for shareholders, it's infuriating pilots and other employees who took pay cuts in the wake of 9/11. Nowhere are pilots as peeved as they are at American, where the airline's 12,000-member Allied Pilots Association has declared war on management.
The pilots' chief complaint: Four years after they voluntarily gave up 23% of their pay along with other concessions to help stave off bankruptcy, top executives of American and parent AMR Corp. have received about a quarter-billion dollars in AMR stock, while employees got only small pay increases. With American poised to have one of its best years ever, its pilots say they just want to make the same as they did in 1992, adjusted for inflation.
SAA management would never do this though....:}
Something funny is happening in the aviation industry: Airlines are making money again. But while that's good news for shareholders, it's infuriating pilots and other employees who took pay cuts in the wake of 9/11. Nowhere are pilots as peeved as they are at American, where the airline's 12,000-member Allied Pilots Association has declared war on management.
The pilots' chief complaint: Four years after they voluntarily gave up 23% of their pay along with other concessions to help stave off bankruptcy, top executives of American and parent AMR Corp. have received about a quarter-billion dollars in AMR stock, while employees got only small pay increases. With American poised to have one of its best years ever, its pilots say they just want to make the same as they did in 1992, adjusted for inflation.