Atlas Air Worldwide Announces New Five-Year Labor Agreement with Atlas Air and Southern Air Pilots
September 10 2021 - 5:24PM
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced
that its Atlas Air, Inc. subsidiary has completed a new joint
collective bargaining agreement (JCBA) for its Atlas Air and
Southern Air pilots, who are represented by the International
Brotherhood of Teamsters (IBT).
The five-year JCBA is one of the last major
steps in completing Atlas Air’s merger with Southern Air, which it
acquired in 2016.
The JCBA was achieved through a contractual
merger process, which included negotiations followed by binding
arbitration to resolve remaining open items. Under this new
long-term agreement, Atlas Air and Southern Air pilots will receive
higher pay and enhanced benefits as part of the overall competitive
package.
“At Atlas, our people are our greatest strength,
and our more than 2,500 pilots deserve this new agreement that
provides them with significantly improved pay and benefits,” said
John W. Dietrich, President and Chief Executive Officer of Atlas
Air Worldwide.
“Our pilots are the best in the business and fly
an unrivaled fleet across our global network to serve our
customers,” said Mr. Dietrich. “With this new agreement in place,
we look forward to continuing to grow our company and creating more
opportunities for pilots to grow their careers.”
“Our company has long prepared for this
investment in our pilots and has factored these new terms and
conditions into customer contract negotiations,” Mr. Dietrich
added. “We continue to see strong demand for our aircraft and
services as we expand and extend customer agreements. We are
well-positioned to leverage the diversity of our business model to
capitalize on very favorable global airfreight market
conditions.”
Pay increases will be effective in October, with
the remaining terms and conditions to be implemented in the coming
months in collaboration with the union. Once the new terms,
conditions and timing of implementation are fully assessed, the
company will provide an updated outlook.
About Atlas Air Worldwide:
Atlas Air Worldwide is a leading global provider
of outsourced aircraft and aviation operating services. It is the
parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and
Titan Aviation Holdings, Inc., and is the majority shareholder of
Polar Air Cargo Worldwide, Inc. Our companies operate the world’s
largest fleet of 747 freighter aircraft and provide customers the
broadest array of Boeing 747, 777, 767 and 737 aircraft for
domestic, regional and international cargo and passenger
operations.
Atlas Air Worldwide’s press releases, SEC
filings and other information may be accessed through the company’s
home page, www.atlasairworldwide.com.
Contacts: |
Investors
– InvestorRelations@atlasair.com |
|
Media – CorpCommunications@atlasair.com |
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