United Airlines (UAL) pilots have approved a new contract valued at $10.2 billion, the largest for any U.S. airline in history.
The four-year deal provides for a cumulative rise in total compensation as high as 40.2%. The Airline Pilots Association, International union (ALPA) explained that 82% of United’s 16,000 pilots voted in favor, with 97% casting ballots.
ALPA indicated the agreement includes “an industry-leading increase” in pay, as well as “quality of work-life and work rule improvements, sick leave and vacation improvements, and an increase in retirement benefits.”
It went into effect Friday and runs through Sept. 30, 2027.
United joined rivals American Airlines (AAL) and Delta Air Lines (DAL) in inking new contracts with its pilots this year, leaving Southwest Airlines (LUV) as the last of the four biggest U.S. carriers to come to an agreement.
Shares of United Airlines Holdings were little changed.