Discussion in 'UPS Airline / Gateway' started by moreluck, Jun 30, 2006.

  1. moreluck

    moreluck golden ticket member

    UPS, pilots reach accord in contract negotiations
    Friday June 30, 6:11 pm ET
    United Parcel Service and The Independent Pilots Association said they reached a tentative agreement on a new labor contract.
    The agreement provides for wage and pension improvements and a variety of changes to work rules. It also enables the company to reward its pilots in a responsible manner, maintaining the flexibility needed to serve customers and expand the business while remaining competitive.

    Specific details of the accord will not be disclosed before the IPA presents the tentative contract to all UPS pilots. The contract must be ratified by a majority of UPS' 2,700 pilots. If ratified, the contract would not become amendable until the end of 2011.
    According to the IPA, a vote by the pilots probably will be completed by mid-September.
    "This tentative agreement has been unanimously approved and endorsed by both the IPA Executive Board and its pilot negotiating committee and is one we will present to our membership for ratification without hesitation," said IPA president Tom Nicholson. "It includes immediate improvements to pay as well as percentage increases in future years while also improving pension benefits and work rules."
    "We have negotiated a fair and balanced contract that's good for our pilots and good for the company," said John Beystehner, UPS' COO and president of UPS Airlines. "We are pleased the IPA leadership team fully endorses the agreement."
    UPS employs more than 1,500 in Memphis and is the second-largest cargo airline operating out of Memphis International Airport after FedEx Corp.
    Published June 30, 2006 by the Memphis Business Journal
  2. wkmac

    wkmac Well-Known Member

    I'm glad to see this as I'm sure the pilots are as well. Hoping this bodes well for an early contract with the IBT but we'll just have to wait and see on that.

    Congrats and thanks to both sides in this for getting this done.
  3. sendagain

    sendagain Member

    Between this and early talks on the next contract, I might expect to see some upward movement in the stock next week. However, I have been wrong before.
  4. realUPSworker

    realUPSworker New Member

    With all the back pay and extras you pilots are getting, stock is going to drop. It's ridiculous. Thanks for doing harm to a company that employs many more works than pilots. It's a shame.
  5. scratch

    scratch Least Best Moderator Staff Member

    I am glad to see this happen, pilots do deserve a good contract. I don't see how the salaries for 2700 pilots will drag down UPS stock, if anything, it should stabilize things, the competition can't use the union issue as a sales point, even though FedEx pilots are union and are in two year negotiations.
  6. Just Lurking

    Just Lurking Member

    Hopefully the air will be on-time now. Fifteen minutes makes a world of difference.
  7. 25yrvet

    25yrvet New Member

    Hey real ups---
    The company made 3.8+ BBbbillion $$ PROFIT last year!!
  8. bisongolfer

    bisongolfer Member

    Which by the way, UPS uses to invest back into the company by aquiring other companies like Overnite. While 3.8 Billion is a lot, it is a widely-known fact that UPS has the highest labor costs of any other company in our field. We need to do our best to keep service level high, keep our employees happy, and still be competitive. You make it sound like we have 3.8 Billion dollars to just throw around...
  9. 25yrvet

    25yrvet New Member

    We're talking BBBbillions of profit each year...Paying the pilots' backwages is a drop in the barrel