The pilots of US Airways, as members of the Air Line Pilots Association (ALPA), today ratified its restructuring plan agreement with 76 percent approving.
“This is one of a number of steps necessary to restructure our airline and return our company to profitability,” said David N. Siegel, US Airways president and chief executive officer. “Our negotiations with ALPA have been professional and constructive and the ratification of this agreement clearly symbolizes the new spirit of partnership and cooperation that we have worked to develop with our employees. I want to thank ALPA`s leadership and its members for ratifying this agreement.”
“The US Airways ALPA pilots, through their membership vote, have decided to participate in US Airways` restructuring and help our company through difficult times and to assist its long-term recovery,” said Capt. Chris Beebe, chairman of the Master Executive Council of the US Airways unit of ALPA. “The pilots` ratification of the US Airways - ALPA Restructuring Agreement represents a tremendous sacrifice from all US Airways pilots,” said Capt. Beebe.
While this ratification is a significant step in the restructuring process, US Airways has yet to complete successful restructuring plans with all stakeholders, including several remaining labor unions, vendors, and aircraft lessors and lenders. There can be no assurance that these efforts will be successful on a voluntary basis. If such voluntary efforts are not successful, a Chapter 11 filing may be required to obtain the necessary relief from other key stakeholders that remain unwilling to work with US Airways on a voluntary financial restructuring.
US Airways has reached tentative agreements on its restructuring plan with the Association of Flight Attendants (AFA), and the Transport Workers Union (TWU) dispatchers, simulator engineers, and flight crew training instructors. Agreements have not been reached yet with the International Association of Machinists (IAM), representing separate mechanic and related positions, and fleet-service worker units, and the Communications Workers of America (CWA).