Current maturities of long-term debt and finance leases, JetBlue Investor Relations Founded in 1931, the Association is chartered by the AFL-CIO and the Canadian Labour Congress. ATSG attributed increased revenue to full . We narrowed this down by setting aside work rule and scheduling issues that affect pilot quality of life, in order to expedite this process and secure an agreement as quickly as possible, said Scales, a Boston-based A320 captain. The Air Line Pilots Association, International (ALPA) is the largest airline pilot union in the world and represents U.S. and Canadian airlines, including Hawaiian. Delta Pilots Look To Salary Gains And Scope Protection As Contract You should understand that many important factors, in addition to those discussed in this Earnings Release, could cause our results to differ materially from those expressed in the forward-looking statements. 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. In all, the agreement is estimated to result in a gain of $675 million over two years for JetBlue pilots. However, neither side is disclosing any details about the proposed terms of the deal, as it. If the merger with Spirit receives regulatory approval, JetBlue would become the fifth-largest passenger airline in the U.S. For the pilots, ALPA policy will guide them through the process of negotiating a joint collective bargaining agreement and integrating seniority lists. 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. Alpa can draw from historical data and has way more of that data. Armored Bridges To Ukraine: Last Pieces For A Counter-Attack Coming Into Place, Leidos Approach To Armys Athena Recon Aircraft Stresses Integration Skills, Networking Experience, Analytic Objectivity, After Covid, The Global Commercial Aviation Fleet Starts To Grow Again, New Marine Corps Prototype Ship Signals Interesting Times For South China Sea, For the Overextended Russian Army, Winning In Bakhmut Could Mean Losing Later, American Pilots React To Delta Deal: Who Walks Into Negotiations Saying I Just Want To Be Like The Next Guy?. Tel: +1 718 709 2202 Informational sessions are taking place at each base to provide the pilots an opportunity to learn about the agreement before voting begins. Our Standards: The Thomson Reuters Trust Principles. The pilots current four-year contract became amendable on August 1, 2022. It specifically covers Logan, JFK, LaGuardia, and Newark airports. 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. This website uses cookies to improve your experience and for ads personalisation. What will it take to Decarbonise Aviation? JetBlue reaches tentative pilot agreement with ALPA With respect to JetBlues CASM ex-fuel guidance, JetBlue is unable to provide a reconciliation of the non-GAAP financial measure to GAAP because the excluded items have not yet occurred and cannot be reasonably predicted. Were also making sure that management sees our unity at PUB events, at LEC meetings, and by simply wearing the ALPA lanyard.. 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Became the anchor tenant at Orlando International Airports new Terminal C, moved operations at LaGuardia Airport into the new, world-class Terminal B, and signed an agreement to become a minority investor in John F. Kennedy International Airport's Terminal 6. Air Line Pilots Association on LinkedIn: #pandemic #london #england # Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. center. Regarding the pilots intention to declare a labor dispute, the letter said, Both parties previously agreed to a process with scheduled negotiating dates through January, if necessary. Delta Pilots to Get Raises In New Contract | Entrepreneur You can learn more about the cookies we use here. News Room > Any outlook or forecasts in this document have been prepared without taking into account or consideration the transaction with Spirit. However, with open and accurate information, this pilot group will continue to succeed., 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. ALPA-represented JetBlue pilots win 21.5% pay raise with new contract Fellow JetBlue ALPA pilots, At 10:00 a.m. this morning, voting closed on the ratification of the Tentative Agreement (TA). Our GAAP results in the applicable periods were impacted by credits and charges that were deemed special items. document.write(new Date().getFullYear()) Air Line Pilots Association, International. This industry-leading contract is the direct result of the Delta pilots unity and resolve, said MEC chair Capt. There is a brewing NBA rivalry between the Memphis Grizzlies and Golden State Warriors with Dillon Brooks in the center of it all. Fuel price in the fourth quarter of 2022 of $3.70 per gallon, including hedges. News & Events > Delta Air Lines Pilots Approve Contract with 1/3 Pay Raise Further information concerning these and other factors is contained in JetBlues filings with the Securities and Exchange Commission, or SEC, including but not limited to, JetBlues 2021 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. An investment in JetBlue pilots now will align the airline with the rising market for professional pilots and allow JetBlue management to concentrate on its acquisition of and merger with Spirit Airlines. At JetBlue, an Airbus A320 captain with 12 years seniority earns $283 hourly. Adjusted capitalization represents total equity plus adjusted debt. "As JetBlue pursues this merger, this agreement protects the career expectations of JetBlue pilots while the market for pilots rises," said Chris Kenney, chair of ALPA's JetBlue unit. In October, JetBlue and Spirit agreed to merge. December 31, Revenue passenger miles (RPMs) (millions), Operating expense per ASM, excluding fuel (cents)(1), Average number of operating aircraft during period, Average fuel cost per gallon, including fuel taxes, Average number of full-time equivalent crewmembers. The market for qualified pilots is on the rise, and JetBlue pilots will not allow their careers to be put into a holding pattern while their airline pursues its merger ambitions. Now, he said, he is focused on talks scheduled for today and early next week. vagabond. This grant creates a war chest that can be used for events, informational picketing, advertising, and other prominent media activities to highlight the need for a new pilot contract. 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. JetBlue. ALPA is the largest airline pilot union in the world and represents more than 66,000 pilots at 40 U.S. and Canadian . HAL - Contract 2022 > Home Earnings Call Details It also includes a reduction in health insurance premiums, better vacation conditions and improvements in . While Spirit's shareholders have approved the merger, the fate of the deal hinges on securing regulatory approvals. As the airline industry turns the page from the #pandemic and the unprecedented downturn in the industry, the @JetBlueALPAPilots are looking to bluer skies IT Services and IT Consulting and Telecommunications. 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. News Room > That airline's pilots approved a new two-year contract that their union estimated to be worth around $463 million.. Contract talks began in April 2019. All rights reserved. Were excited to continue building on last years record performance as we look at another strong year of revenue growth, underpinned by multiple network and commercial initiatives, including strong earnings accretion from the NEA as our markets mature. It shouldn't take as long this time due to the fact there's now more standard alpa language than last time. That has allowed JetBlue to devote its resources to merging two large airlines. With a merger pending, the normal slow course of comprehensive Section 6 contract talks would have meant that we were going down a path that would take us years as resources were expended and as the regulatory aspect played out to get the pilots up to date with the industry, said Kenney, a Los Angeles-based A320 captain. Amazon contractor ATSG expects cargo jet usage to dip 5% in 2023 Meanwhile, JetBlue and its pilots have been engaged in expedited, short-term contract negotiations since September 2022. Nearly every U.S. pilot group is negotiating a contract, but the JetBlue chapter of the Air Line Pilots Association has a unique approach. Were pleased that we were able to come to a mutually beneficial agreement with management, continued Capt. JetBlue pilots approve two-year contract extension - union The Air Line Pilots Association said 78% of Delta pilots who voted supported the contract. The pilots' current four-year contract became amendable on August 1, 2022. . By continuing to browse this site you are agreeing to our use of these cookies. The JetBlue pilot contract became amendable on August 1; the two sides began negotiations on March 1, six months in advance of that date. Introduced the new TrueBlue loyalty program, bringing added value and new perks to a broad set of customers. Air Canada pilots are pressing for higher pay in the run-up to fresh contract talks, following recent gains secured by pilots at U.S. carrier Delta Air Lines, union representatives told Reuters. Spirit pilots are in line for a 27% economic gain from the agreement, which is retroactive to 1 January 2023. Analysts at Jefferies estimated that the United States is short of 10,000 pilots. The agreement ratified today puts JetBlue pilots in a strong position for future negotiations for either a joint collective bargaining agreement with the pilots at Spirit Airlines or, should the merger fail to conclude, a comprehensive standalone collective bargaining agreement, the union adds. The parties have two additional bargaining sessions in the next month, where the pilots are calling on management to recognize their contributions to the airlines success during one of the most turbulent times in the industrys history. Delta Air Lines pilots ratified a new contract that provides 34% pay increases over a four-year agreement, setting a potential bar as other U.S. carriers and their pilots' unions pursue similar . 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/. 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. Operating expenses per available seat mile (CASM) for the fourth quarter of 2022 increased 28.4% compared to the fourth quarter of 2019. Contract 2023 - Page 15 - Airline Pilot Central Forums Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. Login here or use the login link in the upper top-right of this page to continue to our members-only area. Delta Gets Along Fine With Pilots' Union, Can JetBlue Do The Same? - Forbes Hundreds of Great Singles on YourTravelMates.com Official Site. It will cover 15,000 Delta pilots and come into effect on Thursday, ALPA said. As the carrier enters what promises to be a multi-year merger process, it just wants higher pay. The pilots of the airline approved a fresh two-year contract that their union estimated to be valued around $463 million FP Trending January 31, 2023 13:13:24 IST JetBlue. Delta Pilots Approve New Contract With Big Raises by Wide Margin In October, the pilots proposed to management that the difficult and resource-consuming bargaining issues in a full contract negotiation be set aside for the time being. On Friday, both JetBlue and ALPA confirmed that the two sides had reached an agreement in principle. These statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Air Line Pilots Association, International JETBLUE PILOT CONTRACT COMPARISON JETBLUE PILOT CONTRACT COMPARISON Synopsis of Pay Rates, Work Rules, and Benefits for: Alaska 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. JetBlue carries customers to more than 100 cities throughout the United States, Latin America, Caribbean, Canada, and United Kingdom. Recognized by "The Points Guy" with an Editors Choice Award for Best Economy Class in the world and by "Business Traveler USA" as Best Budget Airline. For more information and the best fares, visit jetblue.com. Operating expenses per available seat mile, or CASM, is a common metric used in the airline industry. Spirit Airlines pilots voted on 10 January to approve a new two-year union contract that could be renegotiated if the airlines pending acquisition by rival discount carrier JetBlue Airways collapses. Founded in 1931, the Association is chartered by the AFL-CIO and the Canadian Labour Congress. Hartmann. $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). The Air Line Pilots Association, International (ALPA) is the largest airline pilot union in the world and represents more than 67,000 pilots at 39 U.S. and Canadian airlines. RECONCILIATION OF OPERATING EXPENSE, INCOME (LOSS) BEFORE INCOME TAXES, NET INCOME (LOSS) AND EARNINGS (LOSS) PER SHARE EXCLUDING SPECIAL ITEMS AND (LOSS) GAIN ON EQUITY INVESTMENTS, Total operating expenses excluding special items, Operating income (loss) excluding special items, Income (loss) before income taxes excluding special items and (loss) gain on equity investments, Pre-tax margin excluding special items and (loss) gain on equity investments, Less: Income tax benefit related to special items, Less: Income tax benefit (expense) related to (loss) gain on equity investments, Net income (loss) excluding special items and (loss) gain equity investments, Less: (Loss) gain on equity investments, net of tax, Basic excluding special items and (loss) gain on equity investments, Diluted excluding special items and (loss) gain on equity investments. The pilot group had an early opener with the company in February and began Section 6 negotiations for a new comprehensive collective bargaining agreement in March. It becomes amendable on December 31, 2026. For further details, see the Fourth Quarter 2022 Earnings Presentation available via the internet at http://investor.jetblue.com. "We continue to be absolutely of. Chris Kenney is front row [+] center. 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. JetBlue Airways pilots have agreed to a contract extension that includes a salary increase of 21.5%over the next 18 months. As there is no cookie-cutter approach to collective bargaining, the Air Line Pilots Association (ALPA) is working to strengthen collaboration among ALPA and non-ALPA pilot groups and develop favorable bargaining patterns across pilot group lines. No Delay. That compares to about $330 at Delta, $310 at United, $278 at American and $306 under the Alaska contract.. Delta pilots ratify new contract, raise 'the bar' for rival airlines corpcomm@jetblue.com. JetBlue pilots' contract revision comes soon after the airline announced that it ended 2022 with a great fourth quarter. Both airlines retain full control of all aspects of their respective business, including pricing, routing, and capacity. News Room - ALPA - Air Line Pilots Association, International Excluding one-time items, adjusted net income for the fourth quarter of 2022 of $72 million. @ALPAPilots. The pilots are driving for negotiations to conclude before the end of 2022, with the last negotiating session scheduled for December 1314. 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. The Delta contract became amendable Dec, 31, 2019. The pilots have been negotiating for short-term extension that is narrowly focused on a few economic improvements to bring their contract in line with the rising market for pilots at other airlinesbefore JetBlue engages in potentially lengthy merger discussions. 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. Delta Air Lines pilots have approved a new contract that provides 34 per cent pay increase over a period of four years. NEW YORK, December 02, 2022 -- ( BUSINESS WIRE )--Today, JetBlue Airways pilots, represented by the Air Line Pilots Association, Int'l (ALPA), were approved for a $5 million grant from ALPA's. JetBlue uses non-GAAP financial measures in this press release. JetBlue utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread to calculate the unhedged portion of its prompt quarter. The pilots contract became amendable on August 1, 2022, and the refocused negotiations are limited to only key economic issues in an effort to complete a contract extension this year. Delta is the first U.S. carrier to have a breakthrough with its union. Operating expense per available seat mile, excluding fuel and related taxes, other non-airline operating expenses, and special items (CASM Ex-Fuel). Now, the Air Line Pilots Association (ALPA), which . On March 1, pilots at Delta Air Lines ratified a new Pilot Working Agreement with the carrier, which runs through December 2026. See who you know. ALPA said that 78% of Delta pilots voted in favor of the contract. The industry leader for online information for tax, accounting and finance professionals. In 1954. "We are committed to our alliance with. One thing you should know, however, is that you don't have to pay your tax bill in conjunction with filing your tax return. News & Events > The Australian Competition and Consumer Commission (ACCC) has granted interim approval to Qantas and Jetstar for their continued co-operation with Jetstar units in Singapore and Japan. Most recently, ALPA backed a successful negotiation for a 21.5% pay rise over the next 18 months for JetBlue flight deck crew and provided support to Hawaiian Airlines and Delta Air Lines on new contract proposals. The air logistics specialist on Thursday reported earnings showing 11% growth in revenue to $530 million and adjusted earnings before accounting measures of $163 million, up 5% year over year. Love at first sight was the stuff of fairy tales, once upon a time, but perhaps no longer. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Air Canada Pilots Want Much Bigger Raises After the Delta Boost A live broadcast of the conference call will also be available via the internet at http://investor.jetblue.com. Beginning with the agreement, which runs through 2026, pilots will receive a 34% cumulative wage increase. . Delta and the Air Line Pilots Association (ALPA), a union, have agreed to increase pilots' pay by 34% over four years. We are putting management on notice that these negotiationsand our careerswont be put on hold while JetBlue navigates a merger," commented Capt. With respect to JetBlues CASM ex-fuel guidance, JetBlue is unable to provide a reconciliation of the non-GAAP financial measure to GAAP because the excluded items have not yet occurred and cannot be reasonably predicted. But some airline executives are concerned that hefty pay raises for pilots will inflate fixed costs and make it tougher to repair debt-laden balance . (1) Refer to Note A at the end of our Earnings Release for more information on this non-GAAP financial measure. In this aggressive bargaining cycle, pilot unity is more crucial than ever, said Kenney. Other Pilots Want Multiple Contract Improvements. Jet Blue Pilots ADVANCING AVIATION SAFETY AND SECURITY SINCE 1931, Laser Illumination Reporting & Mitigation. This was despite the impact of Hurricane Nicole and Winter Storm Elliott. ir@jetblue.com, JetBlue Corporate Communications If you are in need of help, contact ALPA's Pilot Peer Support (PPS) program. JetBlue ALPA Pilots - ALPA 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.
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