ATLANTA (AFX) - UPS Inc. and its pilots union have reached a tentative agreement on a new contract, which, if approved, would end a stalemate that dragged on for more than three years and included the pilots' threat of a strike, the union said Friday.
The union said in a statement that the agreement would run through 2011 and must be ratified by the nearly 2,500 pilots at the Atlanta-based company.
Terms of the new contract were not immediately disclosed, though the union said it included wage and pension improvements and a variety of changes to work rules.
Pilots at the world's largest shipping carrier had been making on average more than $175,000 a year, according to the company.
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