Any details on what is in their TA? I had heard of a 10.5% raise...anything gained for the pilots...other than their jobs. I understand that their quality of life wasn't bad...just low pay for a 747 driver job. What about the M word...Merger? Thoughts? Opinions?
Just got the word that it passed by 75% Wow...I was expecting it to barely pass.
I had heard that the bonus or signing pay was something like $11k...now they are offering something like $1k...post strike. Is that true? Glad to hear that it's all done.
Polar Air Cargo Crewmembers Ratify New Labor Contract
Wednesday October 5, 7:15 pm ET
PURCHASE, N.Y.--(BUSINESS WIRE)--Oct. 5, 2005--Crewmembers of Polar Air Cargo, Inc. (Polar), a subsidiary of Atlas Air Worldwide Holdings, Inc. (AAWW) (OTC: AAWW.PK - News), today ratified the tentative contract agreement reached between Polar and the Air Line Pilots Association on October 2.
The 18-month contract provides for a 10.5% pay increase effective June 1, 2005, an increase in the Company's 401k Plan matching contribution, and a 4% lump-sum payment due August 1, 2006, based on each Crewmember's earnings from June 1, 2005 through May 31, 2006.
"Ratification of this contract by our Polar Crewmembers sets the stage for the merger of our two Crew workforces under one contract in 2006," said Jeffrey H. Erickson, President and Chief Executive Officer of AAWW. "I am extremely proud of the hard work and dedication of both our Crew workforces. Working together, I know we can ensure a long and secure future for our airline."
The Company expects to restore scheduled service operations again quickly, with initial flights to begin late Thursday (10/6).
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