DENVER (CBS4) – Pilots for Frontier Airlines on Friday voted in favor of a tentative plan to give up some of their benefits. In return they get a stake in the company.
The deal includes delayed pay increases, lower company 401K contributions and fewer sick and vacation days.
With the deal pilots would then become minority owners of the airline.
The CEO of Republic Airways, which owns Frontier, has hinted that more employee deals may be needed in order to stay profitable.
Jeff Thomas, President of the Frontier Airline Pilots Association, shared the following notice with CBS4 on Friday:
Today, the Pilots of the Frontier Airline Pilots Association ratified a Tentative Agreement approving their participation in the restructuring of Frontier Airlines. The membership voted 498-58 to ratify this agreement.
The vote of the Frontier Pilots is not only an investment in our careers with Frontier Airlines, but also demonstrates their commitment to help secure a future for all of our fellow Frontier employees. In ratifying this agreement, the Pilots have made a significant equity investment in Frontier Airlines and look forward to contributing to its future success.
We look forward to the other stakeholders participating in this process as we move in a direction of stability and growth for Frontier Airlines so we may continue providing our service to our loyal and valued customers.