Sun, Aug 09, 2009
Section 1113 Appeals Are Also Settled, Vote Later This
Month
Frontier Airlines and the
International Brotherhood of Teamsters (IBT), Local 961, Thursday
entered into a consensual, long-term labor agreement and a
comprehensive settlement of the Company’s litigation under
Section 1113 of the Bankruptcy Code.
The agreement modifies the wage and benefit reductions Frontier
obtained from its IBT-represented employees under a Bankruptcy
Court order last November. The new agreement’s modified wage
and benefit reductions are comparable to the consensual reductions
Frontier has obtained from its other employee groups. The
settlement, if ratified, also will resolve the ongoing appeals of
last year’s Bankruptcy Court order.
The proposed agreement, which is
endorsed and supported by IBT leadership, will now be put before
Frontier's maintenance employees for a ratification vote. The IBT
anticipates it will hold the ratification vote on the agreement and
count ballots by Aug. 20.
“Frontier and the IBT worked together to negotiate an
agreement that takes into account the best interests of Frontier,
the IBT and, most importantly, all of our maintenance
employees,” said Frontier President and CEO Sean Menke.
“I applaud the IBT leadership for working with us to reach
this agreement. It provides us with cost assurances and labor
certainty as we proceed with the upcoming auction process and our
anticipated emergence from bankruptcy.”
"The Teamsters Union and its members understand the importance
to our members and to Frontier of this agreement,” said
Matthew Fazakas, President and Principal Officer of Teamsters Local
961. “On behalf of the IBT leadership, we fully endorse this
agreement and will work to achieve ratification as promptly as
possible.”
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