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Allegiant Travel (ALGT) Inks a Tentative Deal With TWU
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Allegiant Travel Company (ALGT - Free Report) announced that it reached a tentative collective deal with The Transport Workers Union (TWU) of America pertaining to pay raise for some of the carrier’s flight attendants.
The TWU represents nearly 1,900 flight attendants of ALGT. The agreement includes significant increases to wages and deadhead pay, improvements to retirement benefits, sick accrual, bonus flight hour calculations, vacation pay, annual vacation allocation and flex time. Moreover, other inclusions are scheduling, hours of service and leave of absence. Also, both the parties have agreed to introduce a minimum day pay and the ability for flight attendants to earn commission from sales of buy on board items.
Greg Anderson, president of Allegiant Travel stated, “We would like to commend the hard work and dedication of the negotiating teams for both Allegiant and the TWU for meaningfully improving our contract on behalf of our flight attendants.”
We remind investors that the parties' first collective bargaining agreement became amendable on Dec 21, 2022. Allegiant and the union agreed on the new five-year provisional agreement after just over 10 months of bargaining.
However, the deal will be effective only if it is successfully ratified. For that, it will be put to vote. The voting procedure is expected to take place later this month.
Zacks Rank & Other Key Picks
Currently, ALGT sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks for investors interested in the Zacks Transportation sector are Copa Holdings, S.A. (CPA - Free Report) and Triton International Limited .
Copa Holdings, which also presently flaunts a Zacks Rank #1, is aided by improved air-travel demand. We are encouraged by the company’s initiatives to modernize its fleet. CPA's focus on its cargo segment is also impressive. You can see the complete list of today’s Zacks #1 Rank stocks here.
For second-quarter and 2023, CPA’s earnings are expected to register 765.6% and 75.4% growth, respectively, on a year-over-year basis.
Triton, currently carrying a Zacks Rank #2 (Buy), benefits from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.97 at the end of first-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
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Allegiant Travel (ALGT) Inks a Tentative Deal With TWU
Allegiant Travel Company (ALGT - Free Report) announced that it reached a tentative collective deal with The Transport Workers Union (TWU) of America pertaining to pay raise for some of the carrier’s flight attendants.
The TWU represents nearly 1,900 flight attendants of ALGT. The agreement includes significant increases to wages and deadhead pay, improvements to retirement benefits, sick accrual, bonus flight hour calculations, vacation pay, annual vacation allocation and flex time. Moreover, other inclusions are scheduling, hours of service and leave of absence. Also, both the parties have agreed to introduce a minimum day pay and the ability for flight attendants to earn commission from sales of buy on board items.
Greg Anderson, president of Allegiant Travel stated, “We would like to commend the hard work and dedication of the negotiating teams for both Allegiant and the TWU for meaningfully improving our contract on behalf of our flight attendants.”
We remind investors that the parties' first collective bargaining agreement became amendable on Dec 21, 2022. Allegiant and the union agreed on the new five-year provisional agreement after just over 10 months of bargaining.
However, the deal will be effective only if it is successfully ratified. For that, it will be put to vote. The voting procedure is expected to take place later this month.
Zacks Rank & Other Key Picks
Currently, ALGT sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks for investors interested in the Zacks Transportation sector are Copa Holdings, S.A. (CPA - Free Report) and Triton International Limited .
Copa Holdings, which also presently flaunts a Zacks Rank #1, is aided by improved air-travel demand. We are encouraged by the company’s initiatives to modernize its fleet. CPA's focus on its cargo segment is also impressive. You can see the complete list of today’s Zacks #1 Rank stocks here.
For second-quarter and 2023, CPA’s earnings are expected to register 765.6% and 75.4% growth, respectively, on a year-over-year basis.
Triton, currently carrying a Zacks Rank #2 (Buy), benefits from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.97 at the end of first-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.