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JetBlue Airways Corporation (JBLU) - free report >>
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JetBlue Airways Corporation (JBLU) - free report >>
Alaska Air Group, Inc. (ALK) - free report >>
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JetBlue's (JBLU) Cabin Crew Members Turn Down Tentative Deal
JetBlue Airways (JBLU - Free Report) suffered a setback on the labor front when its in-flight crew members voted down a provisional deal between the company and the Transport Workers Union (TWU). Notably, TWU represents the in-flight crew members of this Long Island City, NY-based carrier.
Significantly, the provisional deal was inked between the involved parties in October 2020. However, the crew members’ decision to reject the contract came as a major blow to the company, which like its fellow airline companies Spirit Airlines (SAVE - Free Report) , Alaska Air Group (ALK - Free Report) and SkyWest (SKYW - Free Report) is already struggling due to coronavirus-induced low passenger revenues.
JetBlue’s head of Customer Experience, Ian Deason, expressed his disappointment at the outcome of this voting procedure, saying: “We are disappointed in the results of the vote. Both the TWU and JetBlue worked through unprecedented circumstances to reach an agreement that was fair to our inflight crewmembers. We will work with TWU to determine next steps.”
Reportedly, the negotiations on the proposed pact had started in June 2018. With the tentative deal being struck down, all previously agreed upon terms and conditions will have to be negotiated afresh as the union and airlines resume discussions to draft a new plan.
Notably, JetBlue’s flight attendants had voted in favor of TWU as their representative only in April 2018. Prior to that, the company had a direct relationship with its flight attendants.
Zacks Rank
JetBlue currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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