Labor Scores Big Victory for American Airlines Employees
Labor scored a big victory this past week when Congress passed H.R. 2591 and sent the bill on for signature by President Barack Obama.
A mirror image of S.2614, the resolution extends the filing deadline provisions of the Pension Protection Act of 2006 that were included in the FAA Modernization and Reform Act of 2012. By extending the date to include the timeframe of the American Airlines bankruptcy employees who were harmed when their defined benefit retirement plans were frozen as a result of the bankruptcy filing, employees will be able to take their funds and redirect them to a qualified retirement plan with no tax penalty. Currently, they must consider the funds as taxable income.
“The process of getting the bill done was no easy feat and required tremendous dedication,” said Airline Division Director Captain David Bourne. "On the Senate side, great credit is due to Senate Majority Leader Harry Reid, along with Senators James Inhofe, Sherrod Brown and many others.”
“It took the dedication of APA President Captain Keith Wilson and the APA Government Affairs Committee headed by Captain Bob Coffman; who working with their government affairs advisors, held over 550 individual meetings with Congressional staffers to help ensure passage of the bill. I'd also like to thank CAPA President Mike Karn for his support,” he went on to say. “This is a great victory for our Teamster members and all the employees of American Airlines,” he concluded.
Airline Industry News
Governmental and Regulatory
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Airlines, Industry and Labor
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Southwest Airlines expects to pay between $2.30 to $2.40 per gallon for fuel in 2015, according to CEO Gary Kelly. The price, however, could still fluctuate depending on whether prices continue to drop or rise again, Kelly said.