514 members,
On May 10th, I along with all other TWU local presidents had a conference call with TWU Air Division Director Gary Peterson. On that call we discussed and voted on the changing of the time periods to calculate for Profit Sharing payouts. I voted, along with the majority of presidents to move the dates in hopes that we could get a profit sharing check in our pockets for the year of 2022. All of your efforts at work will go towards this goal.
2021 was the pandemic year and no profits to be had, This letter is for June of 2023 payment if profits are achieved for the 2022 year.
Thank you for what you do every day.
Unity
Dale Danker
President TWU Local 514
May 19, 2022
Tom Regan
Airline Coordinator
Transportation Department IAMAW
Airline Coordinator
Transportation Department IAMAW
Gary Peterson
International Vice President
Air Division Director
Transport Workers Union of America
International Vice President
Air Division Director
Transport Workers Union of America
2022, 2023 Profit Sharing Years
Dear Tom/Gary:
In March 2020 American Airlines, Inc. (“American”) and the TWU/IAM Association entered into Joint Collective Bargaining Agreements covering Fleet, M&R, MLS, MCT,
and MTS (the “JCBAs). Article 17 of the JCBAs sets forth profit sharing benefits for TWU/IAM Association represented employees, which are calculated based on a calendar profit sharing year.
In March 2020 American Airlines, Inc. (“American”) and the TWU/IAM Association entered into Joint Collective Bargaining Agreements covering Fleet, M&R, MLS, MCT,
and MTS (the “JCBAs). Article 17 of the JCBAs sets forth profit sharing benefits for TWU/IAM Association represented employees, which are calculated based on a calendar profit sharing year.
This letter sets forth the agreement between American and the TWU/IAM Association to define the profit sharing year under Article 17 for the years 2022 and 2023 as follows:
-
- The 2022 profit sharing year will be defined as the 12-month period beginning on April 1, 2022 and ending on March 31, 2023. Profit sharing award payments for the 2022 profit sharing year shall be made by June 30, 2023.
- There is no change to 2023 profit sharing calculation, i.e., the 2023 profit sharing year will continue to be defined as the 12-month period beginning January 1, 2023 and ending on December 31, 2023.
This agreement does not modify the terms of profit sharing benefits contained in Article 17 – Profit Sharing, except as specifically identified herein. The parties have agreed to enter into this agreement on a one-time non-precedent setting basis.
If the above accurately reflects your understanding of our agreement, please indicate by signing below.
