JetBlue Offers Early Retirement Packages to Pilots

JetBlue is offering early retirement packages to eligible pilots nearing the mandatory retirement age of 65, according to a memo from the airline’s labor union. Pilots who are 59 years old or older by March 31 are eligible for the voluntary separation bids, which close on February 7.

The airline has been working to reduce costs and boost revenue through initiatives like introducing new first-class seats, while also dealing with a Pratt & Whitney engine recall that has grounded some of its planes.

Under the agreement, pilots will receive compensation for 55 hours of their hourly pay rate until their mandatory retirement day or 18 months from the separation agreement, whichever comes first. For example, an Airbus A320 captain with 12 years of experience turning 65 in December 2027 would receive $416,293.02, while an Embraer E190 captain with eight years of experience would receive $160,858.91.

JetBlue, which will report its quarterly results on Tuesday, has not yet responded to requests for comment. The retirement offer is part of the airline’s ongoing efforts to manage costs and improve operational efficiency.

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Sources: AirGuide Business airguide.info, bing.com, cnbc.com