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"FedEx pilots become highest paid"

Wednesday, October 18, 2006

FedEx Pilots Accept Contract 
The Associated Press 

MEMPHIS, Tenn. - Pilots for FedEx Express have approved a new, four-year
work contract, the company and the pilots' union announced Tuesday.

The cargo airline's 4,700 pilots, represented by the Air Line Pilots
Association, began voting on the contract last month.

Almost 95 percent of the pilots voting on the work agreement approved it,
the announcement said.

"FedEx Express and ALPA have worked tirelessly over the last two years to
reach what we all believe is a competitive and mutually beneficial
contract," said David J. Bronczek, president and chief executive of the
largest division of Memphis-based FedEx Corp.

Pilots will get a 9 percent pay increase when the contract takes effect Oct.
30, with 3 percent raises scheduled for the next three years, said union
spokesman Scott Sherrin.

During contract negotiations, FedEx said an average company pilot earned
more than $175,000 a year. The union said that figure was inflated but
declined to give a number of its own.

Pay varies according to aircraft size, pilot experience and other variables,
and Sherrin said the union was unsure what formula FedEx used to estimate
average pay.

"There is no average pilot," he said.

A 15-year captain of a big, wide-body cargo jet is paid about $206 an hour
for flight time, while the co-pilot of a smaller plane draws about $106 an
hour, Sherrin said.

The new contract also includes improvements in retirement pay, health care
and job security, the union said.

"With their vote today, our pilots have approved a contract that
acknowledges their continued hard work in maintaining FedEx's leading
position in the industry," said Captain David Webb, union chairman at FedEx.

Shares of FedEx Corp. fell 82 cents to close at $115.82 on the New York
Stock Exchange.


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