Printer Friendly

Allied Pilots Association Launches Week-Long Focus on Broken Promise of "Shared Reward" at American Airlines.

"It is time to recognize the contributions of the thousands of AA employees who made the real sacrifices."

FORT WORTH, Texas -- The Allied Pilots Association (APA), representing the 12,000 pilots of American Airlines (NYSE:AMR), today launched a series of activities for the week of April 15-April 21 to highlight the tremendous sacrifices made by all AA employees to return the airline to financial health.

At the same time, APA will shine a spotlight on the handful of senior executives who have "decided to reward only themselves for the work of others in a gross violation of management's earlier promise of shared reward for shared sacrifice," said APA President Captain Ralph Hunter.

Beginning today, APA is honoring the sacrifices of fellow AA employees with a special "hats off" salute. As highlighted nationwide on page 2A of today's USA Today, AA pilots will be removing their hats all week in recognition of the daily efforts and more than $7 billion in givebacks by 80,000 line employees that are largely responsible for American Airlines' return to profitability.

On Wednesday, APA will host a national rally and march on AMR headquarters in Fort Worth, Texas to deliver the message directly to senior executives.

"Over the last four years, AA employees have given up more than $7 billion in pay and benefits. Thousands of our fellow employees were laid off, and thousands remain on furlough today," Hunter said. "During this same time period, executive compensation has increased by more than 700 percent. The executive bonuses scheduled to be paid later this week will nearly equal all of the airline's profits for 2006. Almost half of that amount will go to a select group of 50 individuals."

"Four years ago, American Airlines stood on the verge of bankruptcy. Four years ago, 80,000 employees stood up and made the right decision to save their airline. And four years ago, AMR management nearly threw all that effort away when it was discovered that senior managers had been protected with special compensation packages," he said. "The 2003 executive compensation scandal resulted in a management shakeup and the resignation of then-CEO Don Carty. We thought management had learned a lesson from that near-tragedy. Apparently, they have not."

"It is time to recognize the contributions of the thousands of AA employees who made the real sacrifices, and it is also time to shine a spotlight of shame on the handful of executives who have monopolized the rewards," Hunter said.

Hunter will be a featured guest tonight on the Jim Bohannon Radio Show to discuss the current executive compensation crisis at American Airlines.

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 12,000 pilots of American Airlines, including 2,799 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 largest passenger carrier.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 16, 2007
Words:516
Previous Article:Mature Women Favor New Capital Gains Tax Strategy for 1031 Exchange According to Capstone Bay.
Next Article:Pinnacle Bankshares Declares Dividend.
Topics:


Related Articles
CLINTON CALLS FOR COOL-OFF PERIOD : BOARD TO TRY TO REACH AIRLINE DEAL IN 60 DAYS.
Airline News - North America.
Airline Finance News - Europe.
Company Watch - Iberia.
Airline News - North America.
Airline News - North America.
Airline Finance News - North America.
Airline News - North America.
Airline Finance News - North America.
Company Watch - American Airlines.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters