Republic Airlines Flight Attendants to Receive Equity Stake

A thousand employees of Republic Airways Holdings and its Frontier Airlines subsidiary will soon receive an ownership stake in the company. The Association of Flight Attendants-CWA approved a new collective bargaining agreement. Some terms are similar to an earlier agreement with the union representing Frontier pilots, who will also get an equity share. In exchange for the stock, the flight attendants agreed to adjustments in their vacation, other pay-related changes, and suspension of the 401(k) match through 2015, the Indianapolis Star reported. The deal is expected to save Frontier $16 million in labor costs over four years.