🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

United to delay pilot furlough date while union weighs broader deal

Published 09/23/2020, 03:31 PM
Updated 09/23/2020, 04:45 PM
© Reuters. FILE PHOTO: FILE PHOTO: A United Airlines passenger jet taxis at Newark Liberty International Airport
UAL
-

CHICAGO (Reuters) - United Airlines (O:UAL) has agreed to delay the effective date of pilot furloughs until Oct. 30 while union members vote on a broader deal that would protect some 2,850 jobs for months longer.

However, pilots will not be paid during the month of October if that deal does not pass, according to a memorandum of understanding between United and the union representing its 13,000 pilots that was seen by Reuters.

"Our pilots are voting right now on a tentative agreement that, if approved, would avoid all pilot furloughs for at least nine months," United spokesman Frank Benenati said on Wednesday. He noted that the company continues to push for an extension of federal payroll support.

If lawmakers fail to agree to extend $25 billion in payroll aid for airlines this month, tens of thousands of employees are set to be furloughed on Oct. 1.

© Reuters. FILE PHOTO: FILE PHOTO: A United Airlines passenger jet taxis at Newark Liberty International Airport

Delta Air Lines (N:DAL) agreed with its pilots to delay furloughs until Nov. 1, the union said on Monday, but will continue to pay them in October even without an extension of $25 billion in payroll support for airlines.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.