Time, isn't a commodity that favors the Association, at this point.
the longer this goes, i don't believe time favors parker/isom.
here's parker's opening statement to analysts & shareholders on oct. 25:
we had significant operational challenges in American in the first half of the quarter as we continue to work on negotiating an industry-leading contract we want for our TWU and IAM team members.
hmmm, ok...industry-leading.
he followed up with:
We've been on mediated talks through the National Mediation Board since early September. Those are our first talks since April, and both parties have agreed not to discuss the content of those talks publicly at the request of NMB. But you should know that we're very focused on reaching an agreement, which is fair to all involved and ensures our operation is back on track. Now we recognize that beyond these two factors, the status quo is not an option.
the status quo is not an option. yet, it seems as though the company is nurturing the status quo, by not offering an industry-leading contract and using mcbryde's ruling to hurt all of us financially.
i hope he doesn't believe everyone in the world is 11 years old and he 'really' means the largest (money-wise) contract = industry-leading.
of course it will be the largest, we have the largest workforce of assoc. work groups.
the best was this question, from the analyst from morgan stanley:
Rajeev Lalwani -- Morgan Stanley -- Analyst
All right, that's helpful. And then as a follow-up, just maybe for Derek as well, broadly on labor. I don't want to talk about specific contracts, but broadly on labor. Do believe that you've got to step up wages to get the buy-in of employees.
I mean that was sort of the strategy at United. It seems to be successful for now. But maybe I'm not thinking about it or approaching it the right way that that may be needed to deliver on some of what you're describing?
Doug Parker -- Chairman and Chief Executive Officer
Yes. Look, as we talk to our employees, the biggest thing we need to do for our team is provide a reliable operation. We -- and thanks to some great front-line leadership have done a really nice job of taking care of our team. We have, as you are well aware, needed to increase compensation across the board to get our wage levels to where their peers in other airlines are, because they certainly deserve to be paid really as much or more as those that are doing similar jobs at other airlines.
But the issue we are dealing with now as it relates to the team is we need to give them the tools they need to do their job, which they do so incredibly well. That's best going to take care of our customers. And we have been doing that. When we don't run, we don't have operational excellence; our team ends up bearing the brunt of that.
They end up not being where they are supposed to be. They end up having inventory over time. They end up having unhappy customers. All of which impacts the run off.
So what we know and it's important in operational excellence as to our customers and to our shareholders is really important to our team. And that's all those reasons why we are so committed to making sure it happens. And we believe doing that will do more for our team than anything else can do right now.
Rajeev Lalwani -- Morgan Stanley -- Analyst
OK, great.
if i was a neutral, i'd assume the union wants more work, exceptional/industry-leading benefits, including profit sharing and pay. i don't believe that was the case? the assoc. just wanted to keep the work we all had the past 5 years, as aa earned over $20 billion.
in an era of unprecedented record profits, our company balked at another week VC. these guys are stunning analysts; leading an airline with a disgruntled workforce during these boom times for airlines.
no need for tough talk or insults. just tell these guys that we have time, the next contract you negotiate will be for crop-duster pilots.