Discount airline Allegiant Air has settled on a union labor contract with its pilots after more than three years of negotiations.
Teamsters Local 1224, which represents pilots, said today that the contract includes increases in pay, retirement and medical benefits. Allegiant said the contract would help pilots while allowing the airline to keep prices low.
Details were not disclosed. Pilots will hold a ratification vote in late July, the union said. It would be the first contract since the pilots agreed to be represented by the Teamsters in 2012.
The negotiations were rancorous and included charges by the union that Allegiant was cutting corners on safety, and that it ignored a federal court order to leave benefits and work rules unchanged while negotiations were taking place.
In early trading, shares of Allegiant Travel Co., based in Las Vegas, rose $1.19 to $143.88.