On October 24th, 1978 President Jimmy Carter signed into law the Airline Deregulation Act, ending the nightmare of total government-control over air travel. But now 34 years later, just in time for Halloween 2012, a new, shadowy threat has emerged from the depths of the airline industry to strike terror into the hearts of weary air travelers everywhere.
It’s – Attack of the Killer Pilots Union!
The Allied Pilots Association (APA), the largest of the unions representing American Airline employees, has rejected a generous contract offer from the ailing airline; pay raises coupled with a 13.5 percent stake in the new company in exchange for the flexibility to transfer some operations to allied airlines. The pay raises were offered in spite of the fact that last year American was forced into bankruptcy due in part to their stratospheric labor costs – payouts to its unions consume an estimated 28 percent of the company’s budget, according to the Timothy H. Lee of the Center for Individual Freedom.