Manufacturing Industry
ATA Holdings union agrees to tentative pay cut deal
Airline Industry Information, Dec 31, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
A tentative agreement for wage cuts for the pilots at ATA Holdings Corp has been approved by the ATA Master Executive Council, a unit of the Air Line Pilots Association.
The deal is expected to generate up to USD6m in immediate savings for ATA Airlines, which is now bankrupt. The agreement includes across-the-board wage cuts for flight crew members and is expected to be submitted to the union's membership for a vote very soon. Voting will end on 9 January 2005.
According to Reuters, the tentative agreement calls for a temporary reduction in flight crew pay as well as a 50% cut in company contributions to flight crew retirement plans.
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