United Airlines Holdings Inc. and its pilots’ union reached in principle a new labor agreement that is the richest ever at a U.S. carrier, ending more than four years of negotiations.
The agreement will result in about $10 billion in value over the life of the contract, the Air Line Pilots Association said in a statement Saturday. The deal will provide pilots a pay raise of 13.8% to 18.7% upon signing and amount to a cumulative increase of as much as 40.2% over the life of agreement, according to the union.
The agreement also details other improvements to areas such as quality of work-life, job security, work rules, retirement and benefits, according to the statement.
