JUNE 21, 2012
More details on American's proposal to the pilots American Airlines released details of its last proposal to the Allied Pilots Association which the union will continue to discuss next week.
Included in the offer is:
-the company support of the pilots unsecured claim for a 13.5 percent equity stake in the new company when American's parent company, AMR Corp., emerges from bankruptcy
-no pilot furloughs, not the 400 pilot layoffs previously proposed
-four percent raise on the date of signing and then two percent pay raises at the end of year one and two, four and five; and industry pay rate adjustment will be considered in year three of the contract or a two percent increase which ever is greater
-change monthly average hours from 72 to 84 hours
-profit sharing plan that awards employees 5 percent of pre-tax income each year from 2012 to 2017
-increases the number of regional jets that can be flown by third-party carriers
-the termination of the pilot's "B" retirement plan, replacing it with a defined contribution plan. the "A" plan will be frozen
Similar to the pdf
With the" me too" clause 5 of 7 could do well .
UPS according to a post on another forum under Freighters, is approaching $53 for mechanics and they use WN as a comparison at around $44.