Atlas Air and Southern Air Prevail in Dismissing U.S. District Court Actions Brought by Teamsters Pilot Union

Date : 01/28/2020 @ 11:41PM
Source : GlobeNewswire Inc.
Stock : Atlas Air Worldwide Holdings (AAWW)
Quote : 20.17  -3.33 (-14.17%) @ 5:00AM
Atlas Air Worldwide share price Chart

Atlas Air and Southern Air Prevail in Dismissing U.S. District Court Actions Brought by Teamsters Pilot Union

Atlas Air Worldwide (NASDAQ:AAWW)
Historical Stock Chart

3 Months : From Jan 2020 to Apr 2020

Click Here for more Atlas Air Worldwide Charts.

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today confirmed that Atlas Air, Inc. and Southern Air, Inc. have prevailed in dismissing two legal actions brought by their pilot union, the International Brotherhood of Teamsters. The union filed these lawsuits last summer, seeking to vacate the management grievance decisions issued in favor of the companies by arbitrators Richard Bloch and George Nicolau, respectively.

“With these rulings, we have a clear and timely path forward to delivering the updated contract that our pilots deserve. This is good news for our pilots,” said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “We remain committed to working collaboratively with union leaders to efficiently negotiate and complete the contract.”

The decisions rendered by the U.S. District Court for the District of Columbia upheld the companies’ position that the merger provisions in both the Atlas Air and Southern Air collective bargaining agreements apply. The merger provisions provide for a defined period of bargaining followed by binding interest arbitration for any unresolved issues.

With these court rulings now rendered, the union is required to promptly provide the companies with an integrated seniority list of pilots, which will enable negotiations to proceed more expeditiously in reaching a new, competitive pilot contract.

For more information about the contract negotiations process and updates, please visit AtlasAir5YPilots.com and follow @AtlasAir5Y on Twitter.

About Atlas Air Worldwide:

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767, 757 and 737 aircraft for domestic, regional and international cargo and passenger operations.

Atlas Air Worldwide’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasairworldwide.com.

Contacts:  Dan Loh (Investors) – (914) 701-8200 Debbie Coffey (Media) – (914) 701-8951

 

Latest AAWW Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200404 09:45:13