The new contract entails a 21.5% pay hike . Contract Now.". The deal, effective Feb. 1, is further evidence of the bargaining power pilots are enjoying as carriers staff up to meet booming travel demand. Chris Kenney, chair of the JetBlue unit of ALPA. The pilots' current four-year contract became amendable on August 1, 2022. . It is routine for our internal projections and expectations to change as the year or each quarter in the year progresses, and therefore it should be clearly understood that the internal projections, beliefs, and assumptions upon which we base our expectations may change prior to the end of each quarter or year. Chris Kenney, chair of the JetBlue unit of ALPA. Paid approximately $114 million in debt and finance lease obligations during the fourth quarter of 2022. Pilots at Delta Air Lines have ratified a new contract that includes over $7 billion in cumulative increases in pay and benefits over four years and is widely expected to be a benchmark for contract negotiations at rival carriers. Delta is the first U.S. carrier to have a breakthrough with its union . Hundreds of Great Singles on YourTravelMates.com Official Site. It will cover 15,000 Delta pilots and come into effect on Thursday, The Air Line Pilots Association (ALPA) said. On November 2, the Negotiating Committee presented a proposal to the company focused on compensation and agreed to an aggressive negotiating schedule with multiple bargaining sessions in November and December. ALPA is the largest airline pilot union in the world and represents more than 66,000 pilots at 40 U.S. and Canadian . Operating expense per available seat mile, excluding fuel and related taxes, other non-airline operating expenses, and special items (CASM ex-Fuel). There was a record number of participants at the meet, with just over 200 competitors from more than 15 schools including New London and Western Reserve. $1.6 billion in unrestricted cash, cash equivalents, short-term investments, and long-term marketable securities at quarter-end (excluding our $600 million undrawn revolving credit facility). New YorkToday, JetBlue Airways pilots, represented by the Air Line Pilots Association, Int'l (ALPA), were approved for a $5 million grant from ALPA's Major Contingency Fund after this week's round of contract negotiations with management resulted in insufficient progress to yield an agreement acceptable to the pilot group. JetBlue Airways pilots, represented by the Air Line Pilots Association, Int'l (ALPA), were approved for a $5 million grant from ALPA's Major Contingency Fund after this week's round of contract negotiations with management resulted in insufficient progress to yield an agreement acceptable to the pilot group. We decided it would be better to negotiate compensation.. We believe we should have had an agreement last week,: he said. JetBlue Pilots Ratify New Contract Extension. Fly the Contract. Scientists, lawmakers and the media have spent three years fighting over what may ultimately prove to be an unsolvable mystery. Also announced a new agreement with Fidelis New Energy to supply 92 million gallons of sustainable aviation fuel (SAF) over a five-year term with a target start date of 2025, bringing meaningful. With 95% of eligible pilots participating, 75% of voted in favour of . ir@jetblue.com, JetBlue Corporate Communications That has allowed JetBlue to devote its resources to merging two large airlines. Air Line Pilots Association, International JETBLUE PILOT CONTRACT COMPARISON JETBLUE PILOT CONTRACT COMPARISON Synopsis of Pay Rates, Work Rules, and Benefits for: Alaska The Atlanta-based carrier employs roughly 15,000 pilots, according to the ALPA. Our Standards: The Thomson Reuters Trust Principles. 6. Pilots would also get a one-time payment up to $17,000. We expect to gain further momentum in the business in 2023 with solid revenue performance throughout the year as we execute on our commercial initiatives and maintain a strong focus on cost control. "We are committed to our alliance with. 06-20-2011 11:00 PM. The webcast replay and presentation materials will be archived on the companys website. What will it take to Decarbonise Aviation? This contract recognizes the Delta pilots substantial contribution to our companys success. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Darren Hartmann. Options for another 60 A220-300 The pilots current four-year contract became amendable on August 1, 2022. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 100-250VBSEN. Spirit pilots, also represented by ALPA, voted on 10 January to approve a new two-year union contract that could be renegotiated if the airlines acquisition by JetBlue collapses. For further details, see the Fourth Quarter 2022 Earnings Presentation available via the internet at http://investor.jetblue.com. "It is completely reasonable for JetBlue to deliver compensation improvements before the end of the yearjust as JetBlue pilots delivered for JetBlue over the past several years.". In February 2021, the pilots voted down a letter of agreement to allow the Company to continue the full NEA as not providing enough benefits in exchange for the contractual leeway. Kenney. FedEx PATH: 866-FDX-ALPA. Founded in 1931, ALPA is the largest airline pilot union in the world and represents more than 66,000 pilots at 40 U.S. and Canadian airlines, including the more than 4,600 pilots at JetBlue. The carrier reported a net income for the fourth quarter of 2022 of $24 million ($0.07 per share), up significantly from a loss of $129 million during the same period last year. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. United Pilots Are Not Close On Contract, But Talks Will Ramp Up. Letter of Agreement 17 not only gives the pilot group a voice in this alliance and its continuation, but also provides improvement to our current pay scale and sick-leave policies.. Non-GAAP financial measure; Note A provides a reconciliation of non-GAAP financial measures used in this release and explains the reasons management believes that presentation of these non-GAAP financial measures provide useful information to investors regarding JetBlue's financial condition and results of operations. Returned to profitability in the second half of 2022 with revenue growth at record levels, combined with an acute focus on maintaining an optimal low-cost structure. This deal provides improvements to the pilots current collective bargaining agreement and gives the pilots significant say in the renewal of the NEA. The Air Line Pilots Association said 78% of Delta pilots who voted supported the contract. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. You can learn more about the cookies we use here. "We continue to be absolutely of. Nearly every U.S. pilot group is negotiating a contract, but the JetBlue chapter of the Air Line Pilots Association has a unique approach. The reconciling information that is unavailable would include a forward-looking range of financial performance measures beyond our control, such as fuel costs, which are subject to many economic and political factors. LufthansaGroup chief executive Carsten Spohr sees the Rome Fiumicino hub of acquisition target ITA Airways as better positioning it to serve southern hemisphere markets as talks on a deal continue. (1) Refer to Note A at the end of our Earnings Release for more information on this non-GAAP financial measure. Spirit pilots are in line for a 27% economic gain from the agreement, which is retroactive to 1 January 2023. Fuel price in the fourth quarter of 2022 of $3.70 per gallon, including hedges. This was despite the impact of Hurricane Nicole and Winter Storm Elliott. At that point, The MEC turned to more focused negotiations on compensation, said Chris Kenney, chairman of the master executive council of the 4,700 member JetBlue ALPA chapter. The Air Line Pilots Association (ALPA), which represents more than 4,600 pilots at JetBlue, said 75% of the pilots voted in favor of ratifying the agreement, which provides for a compensation increase of 21.5% over 18 months as well as other monetary improvements. JetBlue carries customers to more than 100 cities throughout the United States, Latin America, Caribbean, Canada, and United Kingdom. In an effort to reach an agreement before the end of 2022, the pilots attempted to ease the negotiating process by setting aside difficult work-rule and other contract issues, instead focusing only on economic items. As we kick off 2023, were pleased to see the demand environment remain solid into the seasonally trough period of the year, said Joanna Geraghty, JetBlues President and Chief Operating Officer. ATLANTA (AP) Pilots at Delta Air Lines easily approved a new contract that will raise their pay by more than 30% over four years and likely lead to similar agreements covering union pilots at other major U.S. airlines. That compares to about $330 at Delta, $310 at United, $278 at American and $306 under the Alaska contract. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The committee held numerous pilot unity building (PUB) events after Local Executive Council (LEC) and MEC meetings and after bargaining sessions so that pilots could ask questions directly to the MEC and the Negotiating Committee. ALPA National PPS: 309-PPS-ALPA (309-777-2572) Delta PAN: 800-673-7150. (ALPA), the world's largest pilots' union, representing more than 60,000 pilots in the United States and Canada. 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Both airlines retain full control of all aspects of their respective business, including pricing, routing, and capacity. By continuing to browse this site you are agreeing to our use of these cookies. Tel: +1 718 709 3089 News & Events > All rights reserved. We have a long road ahead of us with a variety of potential stumbling blocks. While management pursued an acquisition and merger with Spirit Airlines, the pilots pressed for a contract extension to bring them in line with their peers rather than wait for joint collective bargaining agreement negotiations after the acquisition. Now, the Air Line Pilots Association (ALPA), which . This Earnings Release (or otherwise made by JetBlue or on JetBlues behalf) contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which represent our managements beliefs and assumptions concerning future events. We are putting management on notice that these negotiationsand our careerswont be put on hold while JetBlue navigates a merger," commented Capt. The Air Line Pilots Association (ALPA), which represents the more than 15,000 pilots at Atlanta-based Delta, said 78 percent of cockpit crew members that voted were in favor of the four-year . Beginning with the agreement, which runs through 2026, pilots will receive a 34% cumulative wage increase. JetBlue pilots have earned these improvementsand its time that the Company delivers. Adjusted capitalization represents total equity plus adjusted debt. For more information and the best fares, visit jetblue.com. We are honoring our side of that agreement. Delta and the Air Line Pilots Association (ALPA), a union, have agreed to increase pilots' pay by 34% over four years. Catch-up on the latest press releases and news articles from JetBlue ALPA or ALPA National directly from this page. As our company looks to merge with another airline, its more important than ever that our pilots demonstrate the unity that brought ALPA to our property just nine years ago and achieved our first contract in 2018, Kenney remarked. The contracts effective date is March 2, 2023. ALPA has also secured as much as a 43% cumulative weighted average pay raise for Spirit pilots in a new contract. Discover something new every day from News, Sports, Finance, Entertainment and more! Safe & Secure Dating! Today, the JetBlue Master Executive Council (MEC) of the Air Line Pilots Association, Int'l (ALPA) announced to JetBlue Airways management its intention to open contract negotiations 180 days in advance of their collective bargaining agreement's (CBA's) July 31, 2022, amendable date. We believe were well positioned to further build on that success in 2023, with a disciplined plan to continue strengthening our foundations both operationally and financially, said Robin Hayes, JetBlues Chief Executive Officer. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. With nearly 90 percent of eligible pilots casting ballots, 60 percent voted to ratify the agreement. The industry has changed even with the Alaska tentative agreement, with over 20% pay increases across the pilot group. In July, JetBlue agreed to buy Spirit Airlines (SAVE.N) in a $3.8 billion deal, which is expected to close no later than the first half of 2024. Stratus Financial. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including, without limitation, the COVID-19 pandemic including existing and new variants, and the outbreak of any other disease or similar public health threat that affects travel demand or behavior; restrictions on our business related to the financing we accepted under various federal government support programs such as the Coronavirus Aid, Relief, and Economic Security Act, the Consolidated Appropriations Act, and the American Rescue Plan Act; our significant fixed obligations and substantial indebtedness; risk associated with execution of our strategic operating plans in the near-term and long-term; the recording of a material impairment loss of tangible or intangible assets; our extremely competitive industry; volatility in financial and credit markets which could affect our ability to obtain debt and/or lease financing or to raise funds through debt or equity issuances; volatility in fuel prices, maintenance costs and interest rates; our reliance on high daily aircraft utilization; our ability to implement our growth strategy; our ability to attract and retain qualified personnel and maintain our culture as we grow; our reliance on a limited number of suppliers, including for aircraft, aircraft engines and parts and vulnerability to delays by those suppliers; our dependence on the New York and Boston metropolitan markets and the effect of increased congestion in these markets; our reliance on automated systems and technology; the outcome of the lawsuit filed by the Department of Justice and certain state Attorneys General against us related to our Northeast Alliance entered into with American Airlines; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; our presence in some international emerging markets that may experience political or economic instability or may subject us to legal risk; reputational and business risk from information security breaches or cyber-attacks; changes in or additional domestic or foreign government regulation, including new or increased tariffs; changes in our industry due to other airlines financial condition; acts of war or terrorism; global economic conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel; adverse weather conditions or natural disasters; external geopolitical events and conditions; the occurrence of any event, change or other circumstances that could give rise to the right of JetBlue or Spirit Airlines, Inc. (Spirit) or both of them to terminate the Merger Agreement; failure to obtain applicable regulatory approval in a timely manner or otherwise and the potential financial consequences thereof; failure to satisfy other closing conditions to the transaction with Spirit; failure of the parties to consummate the transaction; JetBlues ability to finance the transaction with Spirit and the indebtedness JetBlue expects to incur in connection with the transaction; the possibility that JetBlue may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate Spirits operations with those of JetBlue; the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the transaction with Spirit; failure to realize anticipated benefits of the combined operations; demand for the combined companys services; the growth, change and competitive landscape of the markets in which the combined company participates; expected seasonality trends; diversion of managements attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction with Spirit; risks related to investor and rating agency perceptions of each of the parties and their respective business, operations, financial condition and the industry in which they operate; risks related to the potential impact of general economic, political and market factors on the companies or the transaction with Spirit; and ongoing and increase in costs related to IT network security. The pilots current four-year contract became amendable on August 1, 2022. Wayne Scales is behind Kenney, to his left. Adjusted debt to capitalization ratio is a non-GAAP financial metric which we believe is helpful to investors in assessing the company's overall debt profile. Stay connected with ALPAFacebook Twitter Flickr YouTube LinkedIn Instagram, View source version on businesswire.com: https://www.businesswire.com/news/home/20221202005239/en/, https://www.businesswire.com/news/home/20221202005239/en/. Delta's ALPA chapter is the second largest with 13,310 pilots, just behind United ALPA's 13,700 members. Meanwhile, JetBlue and its pilots have been engaged in expedited, short-term contract negotiations since September 2022. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items. JetBlue. But its not just Delta, he said. Ohio State kept fighting, and there was a lot more offense to speak of than last time against Michigan State, but the Spartans won on senior day. Adjusted debt includes aircraft operating lease liabilities, in addition to total debt and finance leases, to present estimated financial obligations. Pilots at Delta Air Lines have ratified a new contract that includes over $7 billion in cumulative increases in pay and benefits over four years and is widely expected to be a benchmark . Visit ALPA.org or follow us on Twitter New YorkToday, JetBlue Airways pilots, represented by the Air Line Pilots Association, Int'l (ALPA), were approved for a $5 million grant from ALPA's Major Contingency Fund after this week's round of contract negotiations with management resulted in insufficient progress to yield an agreement acceptable to the pilot group. All rights reserved. ADVANCING AVIATION SAFETY AND SECURITY SINCE 1931, Laser Illumination Reporting & Mitigation. About The Role Our global sales organization (Berlin, Oslo, Paris, Boston, Dallas, Shanghai, Tokyo, Seoul) is expanding rapidly. document.write(new Date().getFullYear()) Air Line Pilots Association, International. A 1-0 lead entering the third period became a 4-1 loss for the Detroit Red Wings against the N.Y. Islanders on Saturday in Elmont, N.Y. Mar. Delivered an excellent operation in the fourth quarter, including an industry-leading completion factor of 98.2% in December. Login here or use the login link in the upper top-right of this page to continue to our members-only area. NEW YORK--(BUSINESS WIRE)-- The new 747-8 jumbo jet: Up close and inside. In an effort to reach an agreement before the end of 2022, the pilots attempted to ease the negotiating process by setting aside difficult work-rule and other contract issues, instead focusing only on economic items. We exclude aircraft fuel and related taxes, operating expenses related to other non-airline businesses, such as JetBlue Technology Ventures and JetBlue Travel Products, and special items from operating expenses to determine CASM ex-fuel, which is a non-GAAP financial measure. We believe that CASM ex-fuel is useful for investors because it provides investors the ability to measure financial performance excluding items beyond our control, such as fuel costs, which are subject to many economic and political factors, or not related to the generation of an available seat mile, such as operating expense related to certain non-airline businesses. JetBlue is New York's Hometown Airline, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan. As of January 13, 2023, the forward Brent crude per barrel price was $85 and the crack spread averaged $41 per barrel for the first quarter of 2023. The Air Line Pilots Association announced on Monday that JetBlue Airways ( NASDAQ: JBLU) pilots it represents have approved a two-year contract extension. There is some reason for cheer in the American airline industry. To that end, both parties have agreed to an additional bargaining session next Wednesday, December 7, which marks just over the half-way point of the scheduled negotiating sessions, the letter said. This website uses cookies to improve your experience and for ads personalisation. document.write(new Date().getFullYear()) Air Line Pilots Association, International. Ninety-six percent of eligible pilots participated in the ballot. The new contract provides a 34 per cent cumulative pay increase, a lump-sum one-time payment, reduced health insurance premiums and improvements in holiday pay, vacation, company contributions to 401(k) and work rules. Delta Air Lines pilots, via their union, the Air Line Pilots Association (ALPA), voted to approve a new contract on Wednesday with 34% in raises through 2026. In that case, you may be inclined to file your tax return at the last minute so as to not have to part with that money earlier than necessary. This industry-leading contract is the direct result of the Delta pilots unity and resolve, said MEC chair Capt. "There is no good reason that we cant come to an agreement with our management team before the year is out," continued Kenney. 03 . That airline's pilots approved a new two-year contract that their union estimated to be worth around $463 million.. Twelve Months Ended Now, with contract negotiations ongoing, JetBlue aims to merge with another airline. Founded in 1931, the Association is chartered by the AFL-CIO and the Canadian Labour Congress. In January, the carrier signed a pilot contract, valued at $145 million, that provides for a 20% increase in base rate pay by 2017. Non-GAAP financial measures are financial measures that are derived from the consolidated financial statements, but that are not presented in accordance with generally accepted accounting principles in the United States, or GAAP. ADVANCING AVIATION SAFETY AND SECURITY SINCE 1931, Laser Illumination Reporting & Mitigation. In October, JetBlue and Spirit agreed to merge. RECONCILIATION OF OPERATING EXPENSE PER ASM, EXCLUDING FUEL, Operating expense, income (loss) before income taxes, net income (loss) and earnings (loss) per share, excluding special items and (loss) gain on equity investments. Article content. Detectives said Saturday that a fight involving three students at a Northern California high school began with an argument outside art class and culminated in a fatal stabbing. CONTACT: ALPA Media, 703-481-4440 or Media@alpa.org, Air Line Pilots Association, International, 7950 Jones Branch Drive, Suite 400S, McLean, VA 22102 | (703) 689-2270, Contact Us|ALPA Gear| Privacy/Terms| Login Help. Pilots at Delta Air Lines have approved a new contract that will give them a 34% pay increase by 2026.. Should be produced by ALPA National, not from any individual group.. and disseminated to the masses. Love at first sight was the stuff of fairy tales, once upon a time, but perhaps no longer. These statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Accordingly, a reconciliation to CASM is not available without unreasonable effort. Contract talks began in April 2019. Alabama's stat leaders from its disappointing road loss to Texas A&M to close out the regular season. Tel: +1 718 709 2202 "While JetBlue management looks toward a merger, JetBlue pilots must first receive the contract they have earned," commented Capt. A live broadcast of the conference call will also be available via the internet at http://investor.jetblue.com. The company my try to control us when we are on duty, or in uniform.. but when meeting regional pilots, don't forget to mention how we are viewed by our senior management. Guide to Business Aviation Training and Safety 2022. In order to avoid possible labor strife, management must come to the bargaining table with proposals that appropriately value its pilots with contractual compensation improvements.