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Allied Pilots Association Cites Value to Shareholders of “Prompt and Orderly Settlement” of Contract Negotiations

Dépèche transmise le 20 mai 2009 par Business Wire

Allied Pilots Association Cites Value to Shareholders of “Prompt and Orderly Settlement” of Contract Negotiations

Allied Pilots Association Cites Value to Shareholders of “Prompt and Orderly Settlement” of Contract Negotiations

FORT WORTH, Texas--(BUSINESS WIRE)--The Allied Pilots Association (APA), certified collective bargaining agent for the 11,500 pilots of American Airlines (NYSE: AMR), emphasized the value of a “prompt and orderly settlement” in the airline’s ongoing labor negotiations as parent company AMR Corporation held its annual shareholders meeting this morning.

“Promptly settling the negotiations that are taking place with all of American Airlines’ union-represented employees is in the best interests of our airline’s shareholders,” said APA President Captain Lloyd Hill. “The rating agencies, security analysts and others who closely follow—and influence—the share price of AMR stock can attest to the benefits of concluding our negotiations. The uncertainty associated with the protracted negotiations has created what is known as an ‘overhang,’ which results in less favorable lending terms and a depressed share price.”

Hill pointed out that the Railway Labor Act, which governs labor negotiations in the airline industry, calls for the “prompt and orderly settlement” of contractual disputes. Negotiations between the pilots and airline management began in September 2006 after management triggered the current contract’s “early-opener” provision in July 2006. The National Mediation Board assigned a mediator to the talks in May 2008. President Obama recently nominated former Association of Flight Attendants President Linda Puchala to serve on the National Mediation Board, signaling a forthcoming shift in the makeup of that organization.

“Considering that negotiations toward a new agreement with our pilots began in September 2006, we’re already well beyond any timetable that could be defined as ‘prompt and orderly,’” he said. “We are hopeful that a reconstituted National Mediation Board will acknowledge the need to help conclude our negotiations in a timely manner for the good of all concerned, including our pilots, fellow employees, shareholders and the traveling public.

“APA is committed to the long-term success of American Airlines and believes that concluding our negotiations promptly will help ensure a brighter future for us all,” Hill said.

Founded in 1963, the Allied Pilots Association—the largest independent pilot union in the U.S.—is headquartered in Fort Worth, Texas. APA represents the 11,500 pilots of American Airlines, including 1,969 pilots on furlough. The furloughs began shortly after the September 11, 2001 attacks. Also, several hundred American Airlines pilots are on full-time military leave of absence serving in the armed forces. The union’s Web site address is www.alliedpilots.org. American Airlines is the nation’s second-largest passenger carrier and fifth-largest cargo carrier.

Business Wire

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