AMR Corp.'s American Airlines won court approval for a new contract with its pilots union, a deal that cuts labor costs and boosts the airline's effort to exit bankruptcy protection, Bloomberg News reported yesterday. The agreement, approved at a hearing yesterday by Bankruptcy Judge Sean Lane, comes after American secured new contracts with unions representing flight attendants and mechanics as part of its restructuring. Judge Lane said that the agreement with the Allied Pilots Association is a significant step to resolving the bankruptcy case that began more than a year ago and helps achieve “long-term viability” for the airline.
