FedEx, Air Line Pilots Assn. approve labor contract that includes 3% pay raise, lump sum payments to pilots, new safety programs, but bypasses retirement benefits, work rules matters; deal to run either one or two years

MEMPHIS, Tennessee , March 24, 2011 () – FedEx and the Air Line Pilots Association say they approved a labor agreement that includes a 3 percent pay raise.

The association approved the agreement in balloting that ended early Wednesday.

The Commercial Appeal reported that the pilots also receive lump sum payments, new safety programs and expanded foreign duty assignment rules. The paper said that the agreement bypasses contentious matters like work rules and improved retirement benefits. It will run either one year or two at the association's option.

Capt. Scott Stratton, a spokesman for the pilots, told the paper that pilots achieved improvements in key areas and are positioned to resolve other issues in the near future.

FedEx Corp. spokesman Maury Lane said the agreement balances the interests of pilots, their families, FedEx customers, shareowners and other employees.

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