A post at Spirit Airlines' website says that the company is trying to work with its pilot's union to end a strike that has shut down the carrier since June 12 and will almost certainly continue though the 15th. Spirit is a small airline which by most estimates handles only 1% of the traffic in the US. That has not stopped the strike from stranding thousand of people who have to look for alternate means of transportation.
As the strike began, a statement at the Air Line Pilot's Association read "Spirit pilots, represented by the ALPA, went on strike against their company-and will not return to the cockpit until a fair and equitable contract is negotiated. Pilot negotiators agreed to extend the strike deadline twice in order to review final proposals put forth by both parties to keep the airline running. In the end, both sides could not reach an agreement."
The action had its largest impact at Spirit hubs in Detroit, Fort.Lauderdale, and Atlantic City.
Spirit competes with AirTran, a rival discount carrier, and JetBlue (JBLU). The Spirit pilots claim their pay package are well below those at its two rivals.
Why do investors make the decisions that they do?View Course »