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Release # 03.034
April 18, 2003
ALPA Chief Blasts American Executive Perks as Hundreds Lose Jobs
WASHINGTON, D.C.---The following statement was issued today by Capt. Duane Woerth, president of the Air Line Pilots Association, International, the nationís largest pilotsí union, regarding recent airline executive bonuses, compensation and stock grants in light of the industryís current financial situation:
"Hundreds of airline workers at American and American Eagle have lost their jobs or given significant wage, benefit and work rule concessions since September 11 to help save their companies. The economic downturn and loss of high-yield business travelers have dramatically impacted airline revenues, and both business and leisure travel are being negatively impacted by the Gulf War. Although airline workers have not caused these problems, they have stepped forward, as always, to be part of the solution.
"Therefore, it is disconcerting, if not outrageous, that airline executives at American are lining their pockets while employees are subsidizing these bonuses and bankruptcy-protected retirement plan trust funds. These same managers are threatening to abrogate workersí contracts in bankruptcy court and should share in the cost cutting. Instead, they are lining their own pockets, and padding their own pensions with solid gold nest eggs.
"Make no mistake: airline workers at American and American Eagle are the reason their companies are the great national assets they are, not management teams who come and go with multi-million-dollar severance packages. We will be here when most executives are long gone, trying to carry on the proud legacy of this nationís air travel industry."
ALPA represents 66,000 airline pilots at 42 airlines in the U.S. and Canada, including approximately 2,600 American Eagle pilots. Its Web site is at http://www.alpa.org.
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ALPA CONTACT: John Mazor, (703) 481-4440