A federal bankruptcy court judge has approved labor agreements between American Airlines and its union for flight attendants and mechanics. The six-year agreements include equity stakes in the airline, as well as cuts to some jobs, pay and benefits. The pilots' union, whose contract the airline was able to throw out, has not agreed on a new contract offer. Savings from the concessions the airline has already won are estimated to be about $1.1 billion a year.
See "American Airlines Wins Approval of Cost-Cutting Contracts", David McLaughlin, Business Week, September 12, 2012