Scott Kirby, CEO of United Airlines Holdings Inc, announced on Friday that the airline and its pilots’ union had achieved an agreement in principle on new contract conditions.
In pre-market trade, shares of the US airline were up 2.4 percent at $42.50 after the Chicago-based carrier became the first among major airlines to secure such an agreement with the pilots. In January 2019, the existing agreement becomes amendable.
The new deal will be finalised and distributed to United pilots for final approval, according to a statement from the pilots’ union United Master Executive Council.
‘During COVID, United was the only airline that worked with our pilots union to negotiate an agreement,’ Kirby posted on Instagram.
The contract’s terms were not published, but CNBC claimed that it will most certainly include increased compensation and other benefits.
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