After two years of talks, both sides reach a tentative four-year agreement.
CHICAGO (Reuters) -- Package delivery company FedEx Corp. and the association representing its pilots said Sunday they have reached a tentative agreement on a new four-year contract after more than two years of talks.
Memphis, Tenn.-based FedEx (Charts) and the Air Line Pilots Association International said the agreement - reached Saturday evening - is subject to review before being finalized.
FedEx's 4,700 pilots will then vote on whether to accept the new contract. If ratified, the contract will become amendable in 2010.
Negotiations on a new contract began in March 2004.
In June, FedEx rival United Parcel Service Inc. (up $0.57 to $70.57, Charts) reached a tentative agreement on a new labor contract with its pilots' union, after four years of talks.
A vote on that potential contract is expected by mid-September. Atlanta, Ga.-based UPS has some 2,700 pilots.
No comments:
Post a Comment