United Pilots’ Union OKs Labor Contract
United Airlines’ pilots union tentatively approved a long-term labor agreement with the carrier that it said should enable United to carry out its bankruptcy reorganization successfully.
The contract, if ratified by the company’s more than 8,000 pilots, would be a huge step for United’s effort to slash costs in order to emerge from Bankruptcy Court as planned next year. Terms were not disclosed.
Shares of UAL Corp. were unchanged at 84 cents on the NYSE.