After protracted talks, El Al Israel Airlines Ltd. (TASE: ELAL) management and the pilots committee reached understandings in a range of areas regarding payment for the pilots as part of the carrier's streamlining plan.
Under the terms of the agreement, the pilots will stop splitting flight shifts and the use of leased aircraft will cease. If all goes according to plan, the pilots and management will sign the agreement over the next 24 hours.
"Walla" reported that the pilots will receive a pay hike of 7.35% and in exchange they will halt the cancelation of flights, shorten their stays overseas on long haul flights including to New York. El Al has agreed to discontinue leasing aircraft.
Much of the agreement was already reached last week between El Al CEO David Maimon, Histadrut (General Federation of Labor in Israel) chairman Avi Nissenkorn and pilot committee chairman Nir Tzuk. There are several marginal issues still to be agreed.
Published by Globes [online], Israel business news - www.globes-online.com - on November 28, 2016
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