UPS pilots ratify two-year contract extension

The unionized pilots of express carrier UPS [NYSE: UPS] on Tuesday overwhelmingly ratified a two-year extension of their existing labor contract.

According to the Independent Pilots Association (IPA), the contract was ratified with 98.86% of the vote and 95.2% of the eligible members casting their ballots. The union represents more than 2,900 pilots who fly for UPS.

The new agreement extends the current labor contract for the UPS pilots, starting Sept. 1, 2021.

“This contract extension provides stability for both UPS and our pilots as we jointly face unprecedented times in our industry” said Capt. Robert Travis, the union’s president, in a statement.

IPA and UPS announced an agreement was reached for the two-year contract extension on Feb. 10, with a deadline for the pilots union membership to ratify it by the end of March.

The extended agreement includes annual wage increases and pension enhancements for the pilots.