Why American Airlines (AAL) Stock Is Up Today

Tickers in this article: AAL

NEW YORK (TheStreet) -- American Airlines was gaining 2.4% to $36.85 Wednesday after Piedmont Airlines flight attendants ratified a new contract.

The Association of Flight Attendants-CWA voted to ratify a new five-year collective bargaining agreement with the American Airlines subsidiary. The airline and the union first reached the agreement on March 6. The airline's 180 flight attendants who are based in Harrisburg, Penn.; Salisbury, Md.; Charlottesville, Va.; Roanoke, Va.; and New Bern, N.C. voted to ratify the new contract.

"We are very pleased the flight attendants at Piedmont Airlines have voted to ratify the new collective bargaining agreement that recognizes their contribution to Piedmont," Piedmont Airlines president and CEO Steve Farrow said in a press release.

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"American Airlines Group Inc., formerly AMR Corporation, operates in the airline industry. The Company's principal subsidiary is American Airlines, Inc. (American). As of December 31, 2011, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia. AMR Eagle Holding Corporation (AMR Eagle), a wholly owned subsidiary of the Company, owns two regional airlines, which do business as American Eagle-American Eagle Airlines, Inc. and Executive Airlines, Inc. (collectively, the American Eagle carriers). American also contracts with an independently owned regional airline, which does business as AmericanConnection (the AmericanConnection carrier). As of December 31, 2011, AMR Eagle operated approximately 1,500 daily departures, offering scheduled passenger service to over 175 destinations in North America, Mexico and the Caribbean."

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