Eastern Airlines’ Machinists Ratify 3-Year Contract
MIAMI — Eastern Airlines’ 12,000-member machinists union ratified a revised three-year contract Thursday night that includes minor improvements over one rejected in April.
A spokesman for Local 702 of the International Assn. of Machinists in Miami reported there were 5,276 votes ratifying the contract and 3,364 against--a 61% approval.
Eastern officials hope to have agreements with two of its three unions by next Wednesday, although several deadlines set previously by the airline’s lenders have been missed.
The lenders have said if Eastern cannot get labor agreements by next Wednesday, the airline will be in technical default on its $2.5 billion in loans--a status that would make it more vulnerable to actions such as increased interest rates or the immediate calling in of some of its loans.
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