World Airways Seeks Second Concessionary Agreement Within Sixteen Months
WASHINGTON, Jan. 10, 2014 /PRNewswire-USNewswire/ -- Today, Teamster representatives of the Flight Attendants and Pilots of World Airways announced that bankruptcy discussions with their employer failed to yield an agreement on concessions their carrier was seeking.
Approximately one year ago, Teamsters members sacrificed $75 million in concessions to allow World to emerge from bankruptcy for the first time. Less than nine months after emerging in February 2013, the company again declared bankruptcy in November 2013.
"While the Teamsters remain committed to finding some way forward with the management of World Airways, our members have spoken loud and clear that we cannot make more concessions without assurances that sacrifices will be shared equally among stakeholders and that the sacrifices will be remembered and honored should the company return to profitability," said Capt. David Bourne, Director of the Teamsters Airline Division. "So far, the company has been unwilling to give us such assurances. Moreover, the company has failed to provide up-to-date information about their business plans, or solid accounting supporting their requests for concessions."
This round of concessionary negotiations marks the second time Teamsters-represented Pilots and Flight Attendants were asked to cut wages and benefits. No further negotiations are scheduled at this time.
The Teamsters Airline Division represents approximately 80,000 workers in all segments of commercial aviation, including pilots and flight attendants. The International Brotherhood of Teamsters was founded in 1903 and represents more than 1.4 million hardworking men and women in the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at www.facebook.com/teamsters.
SOURCE International Brotherhood of Teamsters