The LATAM Airlines Group and the Union of LATAM Pilots (SPL) in Chile reached an agreement on Wednesday to eliminate the possibility of a strike on Thursday, according to a union statement.
Avoiding the strike last minute
LATAM faces a new challenge after having recently dealt with its Chapter 11 bankruptcy process and may face industrial action taken by its team of pilots in the event of a strike during the proceedings. There is also a possibility. A few days back, the company’s pilots voted in favor of a strike, with an overwhelming 99% majority.
The SPL said that they managed to avert the strike in time which seemed inevitable. Before the deadline, both sides reached a fair deal, which averted the strike in time. The union represents 313 of the airline’s approximately 500 pilots.
As reported by Reuters, the union argued that 240 pilots had been fired as well as greatly reducing their compensation amount, which had been reduced to 30 percent during the Covid pandemic. While company executives and other employees have recovered 100% of their pre-pandemic income, pilots’ wages carry on to drop, SPL alleged.
Received support from other pilot unions around the world
In the last few days, all these LATAM pilots got support from pilots’ unions all over the world. Some well-known names also appeared in support, including the British Airline Pilots Association (BALPA) and the Oneworld Cockpit Crew Coalition (OCCC). In support, he said it was a pity that the ATMM management continued its “malicious bargaining strategy” despite the increasing demand for visits.
How LATAM emerged from Chapter 11
About 2.5 years after LATAM Airlines emerged from US Chapter 11 bankruptcy protection, this chapter caused a lot of trouble for the company. This time was very difficult for the company but after covid 19 the time turned favorable again and they were able to emerge from it seeing the increasing demands. With this, it became the last Latin American airline to emerge, following regional rivals Avianca and Aeromexico.
LATAM accomplished its reformation & appear “with a good financial position.” The airline reduced around 35% of its debt from the pre-filing time & reached over $2.2 billion in liquidity.
When considering the effect of the COVID-19 disaster, LATAM’s CEO, Roberto Alvo, supposed that the group couldn’t forget the natives it lost in this disaster. “Although we tried our best to keep everybody, the appealing force plague forced us to resize to carry on. I desire you to know that I think of you in these moments,” he mentioned in his discussion.
