URGENT MEDIA ADVISORY
United Pilots to UAL Management: Shared Sacrifice Should Lead To Shared Rewards
Pilots to conduct Informational Picketing at DCA and IAD on Thursday, May 3 to bring to light the excesses and greed of a select privileged group of airline executives at the expense of those who safely and professionally keep United Airlines in the air: the pilots.
In the early years of aviation, the airline industry was built by individuals of integrity, courage and conviction. Today, it is managed by people whose greed is beyond comprehension. Great airline builders such as former United CEO Pat Patterson have been replaced by those whose sole purpose in life seems to be filling their own bank accounts at the expense of those whose blood, sweat and perseverance have flown the industry through the storms of bankruptcy.
While the pilots of United Airlines have been quietly and safely delivering our passengers to their destinations, current airline management has gutted our families financial security by terminating our pension plan and slashing our pay by an average of 50% while at the same time squandering literally millions of dollars on schemes to enrich themselves. The compensation package of current CEO Glenn Tilton was increased by an indefensible 3533% year over year, as reported by the New York Times.
The United Pilots say that it is time to put a HALT to the excess and largess of this privileged group and share the rewards of success with the people who ensure the safety and security of our passengers day in and day out. It is time to FIX our bankruptcy-imposed contract now.
The United Pilots’ message to UAL management is that we deserve and expect to share in the Company’s success. United has the ability to reverse the draconian pay and work
rule changes extracted from the pilots beginning in 2002 that saved the company from liquidation.
Who: United Airlines Pilots
What: Informational Picketing
When/ Thursday, May 3, 2007
Where
11:30 a.m. to 12:30 p.m., Reagan National Airport
2:30 p.m. to 3:30 p.m., Washington Dulles International Airport
Facts:
· United’s new executive compensation plan rewards the same executive team that led the airline into bankruptcy.
· During United’s bankruptcy, UAL pilots’ deep concessions were based on a very pessimistic business plan, while United executives’ pay is based on the executives’ new, very optimistic and profitable business plan. UAL executives cannot have it both ways!
· The pilots’ 40% pay cuts were converted into a 3,533% compensation increase for the CEO. This serves as Exhibit A in proving that corporate greed is a growing problem in today’s business sector.
· Including benefits and work rule reductions, UAL’s pilot payroll actually decreased by over 50% since 2003.
· The employees at United Airlines should significantly share the success with senior management as it was the employees who sacrificed their pay, work rules, benefits, retirement, and in some cases, jobs to save UAL from liquidation.
· UAL’s pilots gave up more than $1.4 billion (that is billion with a B ) annually from 2003 through 2010 to help the company avoid liquidation. On top of that, the pilots of UAL lost their defined benefit pensions and had their health insurance benefits reduced by more than 20%.
· Pilots deserve real profit and real success-sharing plans. United’s profit and success-sharing plan provides UAL pilots with only pennies on dollars
conceded. This does not come close to making up for an annual $40,000 to $110,000 pay cut.
United Pilots to UAL Management: Shared Sacrifice Should Lead To Shared Rewards
Pilots to conduct Informational Picketing at DCA and IAD on Thursday, May 3 to bring to light the excesses and greed of a select privileged group of airline executives at the expense of those who safely and professionally keep United Airlines in the air: the pilots.
In the early years of aviation, the airline industry was built by individuals of integrity, courage and conviction. Today, it is managed by people whose greed is beyond comprehension. Great airline builders such as former United CEO Pat Patterson have been replaced by those whose sole purpose in life seems to be filling their own bank accounts at the expense of those whose blood, sweat and perseverance have flown the industry through the storms of bankruptcy.
While the pilots of United Airlines have been quietly and safely delivering our passengers to their destinations, current airline management has gutted our families financial security by terminating our pension plan and slashing our pay by an average of 50% while at the same time squandering literally millions of dollars on schemes to enrich themselves. The compensation package of current CEO Glenn Tilton was increased by an indefensible 3533% year over year, as reported by the New York Times.
The United Pilots say that it is time to put a HALT to the excess and largess of this privileged group and share the rewards of success with the people who ensure the safety and security of our passengers day in and day out. It is time to FIX our bankruptcy-imposed contract now.
The United Pilots’ message to UAL management is that we deserve and expect to share in the Company’s success. United has the ability to reverse the draconian pay and work
rule changes extracted from the pilots beginning in 2002 that saved the company from liquidation.
Who: United Airlines Pilots
What: Informational Picketing
When/ Thursday, May 3, 2007
Where
11:30 a.m. to 12:30 p.m., Reagan National Airport
2:30 p.m. to 3:30 p.m., Washington Dulles International Airport
Facts:
· United’s new executive compensation plan rewards the same executive team that led the airline into bankruptcy.
· During United’s bankruptcy, UAL pilots’ deep concessions were based on a very pessimistic business plan, while United executives’ pay is based on the executives’ new, very optimistic and profitable business plan. UAL executives cannot have it both ways!
· The pilots’ 40% pay cuts were converted into a 3,533% compensation increase for the CEO. This serves as Exhibit A in proving that corporate greed is a growing problem in today’s business sector.
· Including benefits and work rule reductions, UAL’s pilot payroll actually decreased by over 50% since 2003.
· The employees at United Airlines should significantly share the success with senior management as it was the employees who sacrificed their pay, work rules, benefits, retirement, and in some cases, jobs to save UAL from liquidation.
· UAL’s pilots gave up more than $1.4 billion (that is billion with a B ) annually from 2003 through 2010 to help the company avoid liquidation. On top of that, the pilots of UAL lost their defined benefit pensions and had their health insurance benefits reduced by more than 20%.
· Pilots deserve real profit and real success-sharing plans. United’s profit and success-sharing plan provides UAL pilots with only pennies on dollars
conceded. This does not come close to making up for an annual $40,000 to $110,000 pay cut.
