Passengers arrive at Ronald Reagan Washington National Airport in Arlington, Virginia, on November 21, 2023.
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jet blue airlines The company’s union told members on Friday that it is offering early retirement plans to some pilots.
The company has coped with the recession while striving to cut costs and improve profits with initiatives such as new first-class seats. pratt & whitney Some aircraft have been grounded due to engine recalls.
The airline has launched a voluntary redundancy bid, which is scheduled to end on February 7, according to a memo from the Airline Pilots Association seen by CNBC.
JetBlue and the union agreed to pay pilots 55 hours an hour until their retirement date or 18 months after their separation agreement, whichever is shorter. As an example, the agreement states that an Airbus A320 captain who has 12 years of service and will turn 65 in December 2027 will be paid $416,293.02, while an Airbus A320 captain with eight years of experience who will turn 65 at the end of the year will be paid $416,293.02. The captain of the Embraer E190 aircraft will be paid $160,858.91. .
JetBlue, which reports quarterly results on Tuesday, did not respond to a request for comment.
An agreement signed between the company and the union earlier this week states that eligible pilots will be 59 years old by March 31st. The federally mandated retirement age for U.S. commercial airline pilots is 65.
