Allegiant (ALGT) Extends Deal With Technicians by Two Years
Allegiant Travel Company ALGT and International Brotherhood of Teamsters (IBT), representing Allegiant's maintenance technicians and related employees, have confirmed a new contract agreement on a two-year extension to the union's initial collective bargaining agreement.
The agreement provides for significant increases in compensation rates and extends the contract by two years till Oct 31, 2028 for 683 workers. The employee group includes line and heavy maintenance technicians as well as stores employees and some administrative maintenance staff.
Greg Anderson, Allegiant president stated, “We are so pleased to announce a ratified agreement with the IBT and our maintenance technicians and related employees more than three years before the current CBA becomes amenable. This speaks to the hard work on both sides of the negotiating process.”
The tentative agreement was ratified by Allegiant’s maintenance technicians and related workforce with a 75.5% approval vote. Allegiant currently employs 683 maintenance technician and related employees.
Zacks Rank & Key Picks
ALGT currently carries Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation GATX and Kirby Corporation KEX.
GATX, which presently carries a Zacks Rank #2 (Buy), is aided by gradual improvement in the North American railcar leasing market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are estimated to register 36.6% and 14.3% climb, respectively, on a year-over-year basis.
Kirby currently carries a Zacks Rank #2. Strong segmental performances are boosting Kirby’s top line.
For third-quarter and full-year 2023, KEX’s earnings are suggested to record 58.5% and 76.2% improvement, respectively, on a year-over-year basis.
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