After a marathon negotiating session lasting 21 hours, Histadrut (General Federation of Labor in Israel) chairman Avi Nissenkorn announced this evening that El Al Israel Airlines Ltd. (TASE: ELAL) CEO David Maimon, and head of the pilots Nir Tzuk, have signed an agreement that will end the disruptions and cancelations of the airline's flights.
The agreements are based on understandings reached last week including a salary hike of 8.75% for the pilots - a slight improvement on the 7.4% agreed upon last week. However, the pilots have agreed on streamlining measures at the carrier such as shortening their stays abroad under a formula of less hours rest for every hour flown. The pilots have also committed to not artificially lengthen flights to boost their pay.
Flight disruptions have already been discontinued, and El Al has committed to stop use of leased flights.
Maimon said, "We are happy to announce the signing of a streamlining agreement between El Al, the Histadrut and representatives of the employees in the pilots sector, which wil lead to a more efficient and productive manner of work in the pilots sector for a better future for the company and all its employees and our loyal passengers."
"We apologize to our customers for the disruptions you experienced and the patience and loyalty that you demonstrated."
Published by Globes [online], Israel business news - www.globes-online.com - on December 4, 2016
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