American Airlines to give 30,000 employees big raises
American Airlines Group Inc. announced Friday a deal to give "significant" pay raises to 30,000 of its union employees, effective immediately. The airliner said it will continue to work toward a collective bargaining agreement with the TWU-IAM Association union. The company has about 118,500 employees, according to FactSet. Under terms of the deal, raises will range from 15% to 36% for maintenance and related employees, 24% for fleet service workers, 31% for tower planners and 55% for weight and balance planners. American Airlines' stock gained 1.4% in morning trade. It has tumbled 20% year to date, while the NYSE Arca Airline Index has gained 1% and the S&P 500 index has climbed 6.7%. (This replaces an earlier item that had an incorrect percentage pay increase for fleet service workers.)
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