Today, the pilots of Spirit Airlines, as represented by the Air Line Pilots Association, Int’l (ALPA), responded to Spirit Airlines’ financial results for the second quarter of 2016, which were announced on Friday, July 29.
The company reported an adjusted net income of $78.5 million, an increase of 4.9 percent compared to the same quarter in 2015. This comes just a month after the pilots sought mediation from the National Mediation Board in order to achieve an amended contract.
“The success of Spirit Airlines is directly attributable to the work, dedication, and professionalism of this pilot group,” comments Capt. Stuart Morrison, chairman of the Spirit unit of ALPA. “We’ve been at the negotiating table for almost 18 months seeking industry-standard compensation. The company is clearly in a financial position to meet this demand.”
In the last year, Spirit Airlines earned over $300 million and currently has over $1.0 billion in cash and cash equivalents. The nearly 1,500 Spirit pilots are currently operating under a five-year contract that was ratified in August 2010, when the airline had approximately 400 pilots. This month marks the one-year anniversary of that contract becoming amendable.
“Spirit Airlines consistently posts greater profit margins than its competitors, while we work at rates that are close to the bottom of the industry,” continued Capt. Morrison.
“We encourage Spirit management to come to the table with an economic offer that recognizes this pilot group’s contributions and brings our compensation in line with the industry.”