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RSS FeedsAmerican Airlines shares plummet on $1bn staff pay deal
(World News UK)

 
 

27 april 2017 20:13:22

 
American Airlines shares plummet on $1bn staff pay deal
(World News UK)
 


Shares in American Airlines were sent into a flat spin after the firm revealed plans to the hike pay packets of pilots and cabin crew. The move, which will cost the airline $230m in 2017 and $350m in the two following years, overshadowed first quarter earnings that beat market expectations. The carrier posted first quarter earnings of 61 cents per share, compared with a Thomson Reuters poll of analysts that expected 57 cents per share. Read more: American Airlines suspends employee after clash with passengers over pram Shares nose-dived around eight per cent as the market opened before easing back, still down around seven per cent at midday, New York time. `Recently we reiterated a...


 
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