lowecur
Well-known member
- Joined
- Sep 14, 2003
- Posts
- 2,317
This will set the bar for E-Class mainline scope. Not good for mainline pay, but it gets the furloughed back to work.
US Airways, pilots reach wage and benefits agreement
The governing body of the union representing US Airways' pilots approved a resolution late Tuesday to accept a wage and benefits plan that helps speed the launch of US Airways' planned regional airline, MidAtlantic Airways.
The lower pay scale, approved by the Air Line Pilots Association's MEC during a conference call, includes wage rates that are comparable to those paid at American Eagle, American Airlines' commuter division.
Those rates are significantly lower than those paid to US Airways' mainline pilots and are among the lowest in the regional airline industry. A mainline captain usually makes from $100 to $200 an hour flying US Airways' larger jets. A MidAtlantic captain likely will get from $50 to $60 an hour, ALPA spokesman Jack Stephan said previously.
In addition, the agreement calls for furloughed pilots from US Airways' mainline operations to fly the regional jets.
US Airways, which operates one of its largest hubs at Pittsburgh International Airport, views the regional jets as an essential piece of a restructuring plan that includes lowering its costs to better compete with discount carriers, such as Southwest Airlines and JetBlue. Those low-cost airlines have been rapidly encroaching on US Airways' key routes along the East Coast.
US Airways has said it expects to receive the first of 85 regional jets it ordered from a Brazil-based aircraft manufacturer, Embraer, later this month. The more efficient, 70-seat airplanes will go a long way toward improving US Airways' bottom line, according to the airline, which last week reported a $98 million fourth quarter 2003 loss.
The loss, which equaled $1.82 per share, was significantly lower than the No. 7 domestic carrier's year-earlier loss of $794 million. Operating revenue also rose more than 9 percent to $1.76 billion from $1.61 billion during the 2002 period.
The airline did not report 2003 versus 2002 financials because it was working through a Chapter 11 bankruptcy restructuring from August 2002 until March 2003.
Since its successful emergence from Chapter 11, the Arlington, Va.-based airline has fallen on hard times again and is considering a liquidation of some of its assets. David Siegel, the company's president and chief executive, told financial analysts late last year the airline wanted to cut costs by as much as $300 million in 2004. Those cuts are in addition to employee work rule changes and wage and benefit concessions he will seek.
US Airways is working to meet a number of financial milestones required under the nearly $1 billion in federal loan guarantees it was granted last year by the Air Transportation Stabilization Board to help the company emerge from Chapter 11 bankruptcy protection last March.
US Airways, pilots reach wage and benefits agreement
The governing body of the union representing US Airways' pilots approved a resolution late Tuesday to accept a wage and benefits plan that helps speed the launch of US Airways' planned regional airline, MidAtlantic Airways.
The lower pay scale, approved by the Air Line Pilots Association's MEC during a conference call, includes wage rates that are comparable to those paid at American Eagle, American Airlines' commuter division.
Those rates are significantly lower than those paid to US Airways' mainline pilots and are among the lowest in the regional airline industry. A mainline captain usually makes from $100 to $200 an hour flying US Airways' larger jets. A MidAtlantic captain likely will get from $50 to $60 an hour, ALPA spokesman Jack Stephan said previously.
In addition, the agreement calls for furloughed pilots from US Airways' mainline operations to fly the regional jets.
US Airways, which operates one of its largest hubs at Pittsburgh International Airport, views the regional jets as an essential piece of a restructuring plan that includes lowering its costs to better compete with discount carriers, such as Southwest Airlines and JetBlue. Those low-cost airlines have been rapidly encroaching on US Airways' key routes along the East Coast.
US Airways has said it expects to receive the first of 85 regional jets it ordered from a Brazil-based aircraft manufacturer, Embraer, later this month. The more efficient, 70-seat airplanes will go a long way toward improving US Airways' bottom line, according to the airline, which last week reported a $98 million fourth quarter 2003 loss.
The loss, which equaled $1.82 per share, was significantly lower than the No. 7 domestic carrier's year-earlier loss of $794 million. Operating revenue also rose more than 9 percent to $1.76 billion from $1.61 billion during the 2002 period.
The airline did not report 2003 versus 2002 financials because it was working through a Chapter 11 bankruptcy restructuring from August 2002 until March 2003.
Since its successful emergence from Chapter 11, the Arlington, Va.-based airline has fallen on hard times again and is considering a liquidation of some of its assets. David Siegel, the company's president and chief executive, told financial analysts late last year the airline wanted to cut costs by as much as $300 million in 2004. Those cuts are in addition to employee work rule changes and wage and benefit concessions he will seek.
US Airways is working to meet a number of financial milestones required under the nearly $1 billion in federal loan guarantees it was granted last year by the Air Transportation Stabilization Board to help the company emerge from Chapter 11 bankruptcy protection last March.