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January 30, 2008
UAL
Profit Sharing
To All IAM Members Employed by United Airlines
Dear Sisters and Brothers,
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The announcement by United Airlines of their reported profits for the
year 2007 is due in no small part to the efforts of the employees of
United Airlines. The announcement also triggers, under our 2005-2009 IAM/UAL
agreements, mandated provisions providing compensation in the form of
profit sharing payments for eligible IAM/UAL represented employees for
year 2007 as reported and negotiated by your District 141 negotiating
committee.
As you will note under the wage rules/compensation provisions of our
Agreements, the 7.5% will double to a 15% payout of the qualified
profits achieved in 2007, and will be shared in the form of compensation
for eligible employees with W–2 Compensation earnings for the year 2007.
Profit Sharing payments for the
program year 2007 will be distributed no later then May 1, 2008 in
accordance with our contract.
We will
further update you as our discussions with the Company make it possible
to do so.
Fraternally,
S.R. (Randy) Canale
President and Directing General Chairman |
