UPS (NYSE:UPS) and the Independent Pilots Association, the union that represents the company’s 2,959 flight crewmembers, have reached a tentative agreement on a two-year contract extension.
Upon ratification, the extension will go into effect at the end of the current contract, Sept. 1, 2021 and become amendable Sept 1, 2023.
“Our pilots do a great job flying for our customers, so we’re pleased to have come to an agreement with IPA leaders to extend the existing contract,” said UPS Airlines President Brendan Canavan. “Upon ratification, we will be able to continue rewarding our personnel for their contributions to UPS’s growth and business success, while ensuring we are positioned to serve our customers in the growing global air express market.”
Key components of the tentative agreement include annual wage increases and pension enhancements.
UPS pilots will review the contract through March 10, then conduct a three-week ratification vote that will conclude on March 31.