CHICAGO, Dec. 7 /PRNewswire-USNewswire/ -- The leaders of the three
largest Unions at United Airlines, Mark Bathurst, Chairman of the United
Chapter of the Air Line Pilots Association (ALPA); Greg Davidowitch, United
Master Executive Council President of the Association of Flight
Attendants-CWA (AFA); and Randy Canale, President and Directing General
Chairman of the International Association of Machinists and Aerospace
Workers (IAM), District 141, issued the following statement in response to
the decision of UAL executives, and approved by the UAL Board of Directors,
to give a $250 million special payout to shareholders:
"ALPA, AFA and the IAM, representing the overwhelming majority of
union-represented employees, are furious with the UAL Board of Directors
and management's decision to give a special shareholder payout to the
exclusion of employees.
"In every venue available, we have voiced our opposition to any
'shareholder initiative' that does not equally recognize employee
sacrifices. We have warned management that this move is wrong for the
business, wrong for the employees and ultimately wrong for lenders. These
executives have pushed through their personal agenda while ignoring serious
concerns raised by nearly every stakeholder, industry trends and the
company's financial position. This is being done with utter disregard for
the interests of employees and the long-term success of United Airlines.
"The best shareholder initiative would be one that invests in the
employees for the long-term success of United Airlines. Shareholders in the
pre-bankrupt UAL were issued new stock in the same manner as every other
constituency, including the employees, when United emerged from bankruptcy.
Today, employees who lost their pensions and work longer hours for less pay
continue to suffer the affects of the bankruptcy. Not one penny of employee
concessions has been repaid.
"Since United Airlines exited Chapter 11, UAL management has
renegotiated excessive executive compensation packages for themselves and
they have renegotiated their agreements with lenders. If they have the
ability to renegotiate their own compensation packages, if they have the
ability to negotiate with lenders, if they have the ability to negotiate
with shareholders to create another management bonus, then the have the
ability to enter negotiations with us."
SOURCE Association of Flight Attendants