Spirit pilots approve new agreement, increasing pay 34%, WSJ reports

Spirit Airlines (SAVE) pilots have cleared a two-year contract agreement that will increase their pay by an average of 34% over that period, the Wall Street Journal’s Alison Sider reports. Almost 70% of the airline’s pilots voted in favor of the pact, which the Air Line Pilots Association union said included gained worth about $463M, Sider says. Spirit has agreed to be bought by JetBlue Airways (JBLU), and the agreement between Spirit and the pilots’ union calls for the company to immediately restart talks with pilots if the merger isn’t approved by regulators or if its dropped, the author notes. Reference Link