>American Airlines has tried to make amends, by announcing a significant pay raise for flight attendants and pilots , to take base pay rates to industry highs, years ahead of when union contracts would become amenable.
>The stock AAL, +6.63% tumbled as much as 8.6% in intraday trade, before paring some losses, even though the airline reported first-quarter earnings that beat expectations, while revenue rose in line with forecasts.
>“We are troubled by [American’s] wealth transfer of nearly $1 billion to its labor groups,” Baker wrote in a note to clients.
https://www.marketwatch.com/story/american-airlines-stock-si...
>American Airlines has tried to make amends, by announcing a significant pay raise for flight attendants and pilots , to take base pay rates to industry highs, years ahead of when union contracts would become amenable.
>The stock AAL, +6.63% tumbled as much as 8.6% in intraday trade, before paring some losses, even though the airline reported first-quarter earnings that beat expectations, while revenue rose in line with forecasts.
>“We are troubled by [American’s] wealth transfer of nearly $1 billion to its labor groups,” Baker wrote in a note to clients.