American finally adopts profit-sharing plan
Airline decides to end rift with workers; first payout in early 2017
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AMERICAN Airlines Group Inc gave in to pressure from employees and adopted a profit-sharing programme, acknowledging the issue was thwarting efforts to improve labour relations and the carrier's performance.
American joins the other large US carriers - Delta Air Lines Inc, United Continental Holdings and Southwest Airlines Co - in splitting some earnings with employees. Starting this year, 5 per cent of pretax income, excluding one-time items, will go into the profit-sharing fund, chief executive officer Doug Parker and president Scott Kirby told workers in a message Wednesday. The first payout will be in early 2017.
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