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American Airlines sees higher costs after new pilot contract

2023-08-22 19:49
(Reuters) -American Airlines said on Tuesday that it was expecting to record higher costs in the current quarter following a
American Airlines sees higher costs after new pilot contract

(Reuters) -American Airlines said on Tuesday that it was expecting to record higher costs in the current quarter following a new labor deal with its pilots.

The company's pilots approved a new contract on Monday that includes more than $9.6 billion in total pay and benefits increases over four years.

The company now expects its cost per available seat mile excluding fuel to rise about 4% to 6%, compared with its previous forecast of about 2% to 4% growth.

The company reaffirmed its cost outlook for the year.

(Reporting by Shivansh Tiwary in Bengaluru; Editing by Anil D'Silva)