American Airlines (AAL) Votes Overwhelmingly in Favor of Strikes to Secure New Contract

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The stock market continued its upward trend and saw trading close to its daily highs. This was due to Norwegian Cruise Line (NCLH), a large ship operating company, reaching and breaking through its 200-day moving average after reporting solid earnings and recording high trading volumes. The market has responded positively to this news.


Meanwhile, Dow Jones has attracted attention for JPMorgan Chase (JPM) acting as a white knight for First Republic Bank (FRC), which has been seen as a positive sign among market participants.


Additionally, American Airlines (AAL) rose 2.2% after announcing that it had voted to allow strikes if necessary to secure a new contract with more than 99% of the vote. As a result, the stock price rose above the 21-day moving average and drew the attention of market participants.


However, negotiations are currently underway as the summer travel season approaches. According to reports, federal laws are making it difficult for airline labor unions to strike. The major issues at hand are wage increases and working conditions, which have arisen due to a surge in air traffic following the pandemic. The Allied Pilots Association represents 15,000 pilots at American Airlines and is working to resolve this issue. 

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