United Airlines (NYSE: UAL) today announced that it has reached a tentative agreement with the Air Line Pilots Association (ALPA) on labor cost savings as a part of the company`s overall financial recovery plan. The agreement has been approved by ALPA`s UAL Master Executive Council and is consistent with the framework agreed upon by the United Airlines Union Coalition and the company. The agreement is subject to approval by the Labor Committee of the UAL board of directors, as well as the board itself. In addition, it requires ratification by United`s pilots.
“ALPA is the first of our unions to reach an agreement on their participation in United`s financial recovery program,” said Glenn Tilton, United`s chairman, president and Chief Executive Officer. “I want to thank the members of ALPA`s and United`s negotiating teams for all of their hard work. This is solid evidence that we are making significant progress toward cutting costs in order to avoid a court-supervised restructuring.
“ALPA, along with our other unions, are stepping up to the challenge by cooperating in an unprecedented way to set the framework for a stronger, more competitive airline,” Tilton continued. “United`s management will continue to negotiate with its other unions on similar agreements in an effort to fully implement our financial recovery program.”
United operates nearly 1,800 flights a day on a route network that spans the globe. News releases and other information about United may be found at the company`s website at www.united.com.