FedEx Express Pilots Ratify Contract - New Four-Year Contract Passes 94.6% to 5.4%

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, today jointly announced that the FedEx pilots have voted to ratify the four-year contract presented to them for review in September.

The contract was approved by 94.6 percent to 5.4 percent with 93.7 percent of eligible pilots voting. The contract takes effect on October 30 and successfully concludes a negotiation process begun in 2004.

“FedEx Express and ALPA have worked tirelessly over the last two years to reach what we all believe is a competitive and mutually beneficial contract,” said David J. Bronczek, President and Chief Executive Officer of FedEx Express. “This new agreement recognizes their contribution to the success of the company and rewards them for their dedication.”

“With their vote today, our pilots have approved a contract that acknowledges their continued hard work in maintaining FedEx’s leading position in the industry,” said Captain David Webb, chairman of the FedEx unit of ALPA. “The improvements in this contract were possible because of the strength and support of our members throughout the negotiating process. We congratulate our pilots and FedEx for this outstanding achievement.”

The new agreement provides industry-leading pay, improved retirement and health care benefits, stronger job-security provisions, and enhanced work rules, Webb said.