US airlines award big pay rises amid record profits
New labour contracts seen adding at least US$1.35b to operating costs of the four biggest US carriers this year
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Dallas
US airlines are posting record profits, awarding hefty pay rises and winning over long-time sceptics such as Warren Buffett's Berkshire Hathaway Inc. The missing ingredient: proof that the industry can weather a downturn.
Previous airline booms were followed by busts that eventually forced all the biggest full-service airlines into bankruptcy. The difference this time is an eight-year era of mergers that stabilised the industry by shrinking the number of major US carriers to four from nine. Adding to that is a profit-boosting, 56 per cent drop in the price of jet fuel since early 2014.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
