A spokesman said Thursday that is still American’s position. All of our excess liquidity will go to pay off debt,” Kerr said. “There is no plan to do any share repurchases. The chief financial officer of American Airlinesĭerek Kerr, said in a recent interview that buybacks are not on the table. The unions asked airlines to pledge to forgo buybacks until until airlines fix their “operational meltdowns” and reach new labor contracts - unions are seeking substantial wage increases.Ī union representative said Thursday that none of the airlines immediately agreed to the pledge. She blamed “greed that ran rampant before COVID” with leaving airlines understaffed. “We paused the greed in aviation for a little while,” said Sara Nelson, president of the Association of Flight Attendants. The unions, which represent pilots, flight attendants, mechanics, baggage handlers and other workers, launched a campaign and petition drive that portrays buyouts as a giveaway to Wall Street and a tool for airline executives to boost their own stock-based compensation. airlines have returned to profitability after huge losses in 20. Union officials worry that buybacks will come back now that most U.S. The airlines are currently barred from buying back their own shares as a condition of $54 billion in federal pandemic aid, but that prohibition ends after Sept.
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