August 27, 2006
FedEx Express and ALPA Announce
Tentative Labor Agreement
Four-year contract requires ratification by pilots
MEMPHIS, Tenn. -- FedEx Express, a unit of FedEx Corp.(NYSE:FDX), and the Air Line Pilots Association, Int’l. (ALPA), the collective bargaining representative for FedEx Express pilots, jointly announced today that they reached a tentative agreement (TA) on a new labor contract on Saturday evening. Negotiations have been conducted under the guidance of the National Mediation Board since October 2005 and both parties acknowledged the Board’s support.
The new agreement is subject to review and finalization of contract language, which is expected to be completed shortly. Terms of the tentative agreement are not being released as they first must be reviewed and approved by the FedEx ALPA Master Executive Council (MEC). If approved, the TA will be subject to a ratification vote by about 4,700 FedEx pilots and if ratified, the four-year contract would become amendable in 2010.
“We’re gratified that the collective bargaining process has produced solid contract improvements that acknowledge our pilot group’s contributions to FedEx and we appreciate the Company’s commitment to these negotiations,” said Captain David Webb, chairman of the ALPA FedEx MEC. “We look forward to presenting the tentative agreement to our governing body and membership.”
“We at FedEx Express appreciate the time and effort both sides have put into reaching a resolution that is not only fair to our pilots and their families but also fair to the company and our other employees and shareowners,” said David J. Bronczek, president and chief executive officer of FedEx Express.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $32 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 260,000 employees and contractors to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit www.fedex.com.
Day and night and 365 days a year, the 4,700 professional FedEx pilots –representing the air division of the FedEx brand and helping generate nearly two-thirds of FedEx Corporation’s annual revenue – fly to cities on five continents, making FedEx among the largest and most profitable airlines by any measure. Founded in 1931 and celebrating its 75th anniversary this year, ALPA represents 61,000 pilots at 40 airlines in the U.S. and Canada. Visit the ALPA website at http://www.alpa.org.
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ALPA Contact: Scott Sherrin, (901)
FedEx Contact: Maury Lane, (901) 434-4829