United Airlines (UAL) – Get Report and its pilots reached an agreement that canceled 2,850 furloughs that had been scheduled for this week, the pilots’ union said Monday.
Shares of the Chicago airline at last check were up 5.5% to $36.07.
The Air Line Pilots Association said it voted to approve the Pandemic Recovery Letter of Agreement with United Airlines management. The accord prevents any United pilot from being furloughed at least until June.
The agreement keeps all 13,000 United pilots employed.
The deal also offers a second round of early-separation options for all pilots age 50+ with 10 years of experience. And it reduces or terminates the effect of temporary work reductions based on a recovery in passenger demand or other market factors, the union said.
The agreement was ratified by about 58% of the pilots who voted on it.
“Our members understood that in order to