American Airlines to give profit sharing to employees

DALLAS (AP) — Coming off record earnings, American Airlines says it will make profit-sharing payments to employees.

American said Wednesday that it will share 5 percent of its pretax earnings with all employees, except top management, starting in early 2017 based on 2016 results.

American says its profit-sharing rate will be lower than other airlines, but added that it plans to offer higher hourly pay rates once it finishes renegotiating union contracts.