Posted on: 27 October 2015 by Ross McSweeny
It’s been a long time coming, but Republic Airways Holdings has now announced that the International Brotherhood of Teamsters’ (IBT) Local 357, which represents the approximately 2,100 pilots of Republic, have voted to ratify a new three-year contract.
“Today’s ratification by the IBT represents a significant positive step forward for our pilots and our airline,” remarked Matt Koscal, Republic’s vice-president of human resources. “The new contract recognises the importance of our pilots in our future success and it gives us a strong foundation on which to rebuild our operation and to move forward with the restructuring of our airline.”
“Our pilot members have more than earned this industry-leading contract that reflects their significant contributions to Republic and the airline industry.” Commented Captain David Bourne, IBT airline division director. “We now look forward to creating the best future possible for our members at Republic and throughout the airline industry.”
The three-year agreement becomes effective on or about 1 November 2015. The agreement invests approximately $50 million a year on average over the three-year duration of the new agreement, including both the ratification bonus and the anniversary bonus. The new agreement includes significant improvements in work rules and the quality of life for the pilots. Additionally, Republic stated, it establishes pay rates that recognise Republic’s pilots as leaders in the regional airline industry, including a transformational $40/hr first year new hire rate.
“We still have many challenges to overcome to achieve a successful consensual restructuring of our business, but today’s positive outcome helps move this process forward in full alignment with our pilots,” Koscal declared.