- American Airlines (NASDAQ:AAL) is offering pilots raises of nearly 17% by the end of 2024, a sign of the leverage that pilots enjoy as airlines struggle with a labor shortage, according to CNBC report.
- CEO Robert Isom said Thursday that the proposal would boost pilot wages at American to the levels detailed in a tentative agreement between United Airlines and its pilots, citing an internal video.
- Its proposal includes a 6% raise at signing and then 5% raises at the start of 2023 and 2024.
- The latest deal proposed to the pilots' union comes less than a week after United (UAL) and its pilots' unions came to a tentative pact that includes over 14% in total pay hikes over the next 18 months, the author notes.
- Airline stocks fell on Thursday amid a broad sell-off in travel and leisure stocks on recession worries.
- Read more on the recent issues encountered by American Airlines (AAL) as a result of the shortage.
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