American Air Pilots Approve Record Contract With Higher Pay

American Airlines Group Inc. pilots approved a new contract that would provide 46% in cumulative pay raises and retirement contributions over its four-year term, along with a bonus, improved scheduling, sick leave and insurance benefits.

The pact will add about $9.6 billion in incremental costs for the airline over its duration, the Allied Pilots Association said in a statement Monday. That makes it the most expensive labor contract ever for a US carrier, topping the $7.2 billion value of an accord Delta Air Lines Inc. pilots secured in March.

The Fort Worth, Texas-based airline’s pilots voted 73% in favor of ...