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
Fri, Nov 25, 2016 - 5:50 AM
American Airlines adopted a profit-sharing programme this year after acknowledging that the issue had become a stumbling block to improving labour relations.
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...