FedEx and its union have come to a new agreement that will benefit both the company and its employees. The new agreement was announced on August 6, 2020, and will cover over 11,000 FedEx Express pilots worldwide.
The agreement between FedEx and the Air Line Pilots Association (ALPA) is a four-year deal that brings about several important changes. One of the most significant changes is the structure of pilot pay. Under the new agreement, pilots will receive an immediate pay increase of 8.5%, followed by annual increases of 3% over the next three years. This means that pilots` salaries will be competitive in the aviation industry and will help to retain experienced pilots.
Another important change is the addition of a new retirement plan. The new plan, called the “Enhanced Retirement Savings Plan,” will provide pilots with increased retirement benefits. The plan will also provide for additional contributions from FedEx and would be available to pilots who have completed at least five years of service with the company.
The agreement also includes improvements to scheduling and vacation time. Pilots will have more flexibility when scheduling their work hours, which will help them balance their work and personal lives. Additionally, pilots will receive more vacation time, giving them more opportunities to spend time with their families.
The agreement also includes provisions to improve pilot working conditions. Pilots will now have access to more ergonomic flight decks and increased crew rest time, which will help to reduce fatigue and improve safety.
Finally, the agreement will provide for improved job security for pilots. The agreement includes a “no-furlough” clause that will protect pilots from being laid off due to economic conditions. This is an important protection in today`s uncertain economic environment.
Overall, the new agreement between FedEx and its union represents a significant improvement in the working conditions and benefits for pilots. The agreement provides competitive salaries, improved retirement benefits, increased vacation time, improved working conditions, and job security for pilots. This is a positive development for both the company and its employees, and should help to ensure the ongoing success of FedEx Express.