UPS, pilots reach tentative agreement on new labor contract

Independent Pilots Association (IPA) and UPS Airlines (NYSE: UPS) have reached a tentative agreement, providing for improvements across all sections of the new five-year labor contract, the company said.

The contract must be ratified by a majority of UPS´s 2,600 pilots. The vote by the pilots will be completed on Aug. 31. If ratified, the new contract will become effective on Sep. 1, 2016, and become amendable on Sep. 1, 2021.

IPA said the agreement has been unanimously approved and endorsed by both the IPA Executive Board and Negotiating Committee. Over the next month it will be presented to members with an unqualified recommendation for ratification.

UPS is a logistics company, offering solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide.

Independent Pilots Association is the collective bargaining unit representing the more than 2,600 professional pilots who fly for United Parcel Service, the world´s largest transportation company. The IPA is headquartered in Louisville, Kentucky.