1. Airline earnings week: After Delta announced their second quarter earnings last week, Southwest, United and AA announced their second quarter earnings this week. AA posted a record profit in the second quarter, reaping a profit of 1.7 billion dollars. That's the highest quarterly profit ever reported by the company. United reported a 1.2 billion dollar profit and Southwest said Thursday that it earned a record $608 million in the second quarter, up 31 percent from a year earlier. It was the airline's ninth straight quarter of record profit. All three of these airlines, in the midst of record breaking profits, all have unsettled labor issues. United is still trying to reach an agreement with their flight attendants, Southwest has not settled with their ramp agents (our Brothers and Sisters at Local 555) nor their aircraft mechanics and the new AA still has to integrate most of their TWU/IAM groups. Please click on the links for more information.
2. Southwest Flight Attendants vote down TA: On the heels of the record profits reported for Southwest this week their Flight Attendants (our Brothers and Sisters at Local 556) overwhelming rejected the recently reached tentative agreement. By a 9,916-to-1,446 vote, flight attendants Friday rejected a tentative agreement with Southwest Airlines. Please click on the link for more details.
3. Joint Association talks continue this week: In preparation for the first joint negotiation with the new AA, the TWU and the IAM will continue the reconciliation of their contracts this week in Chicago. Both the Fleet Service group and the Mechanic and Related groups will work here for the next two weeks. Please click on the attachment to this email for more details.
4. New 401(k) accounts: Last month, the company transitioned our 401(k) accounts to Fidelity. That process has been completed, you have to log on to netbenefits.com/aa to access your $uper $aver 401(k) account. After you set up your username and password, take some time to familiarize yourself with the new site and its features. Please click on the link for more information about transitioning your account.