World Airways Pilots Union Negotiating Team Rejects Three-Year Contract Proposal
November 14 2005 - 8:24AM
PR Newswire (US)
Proposal Included Pay Increases, Bonus, Improved Work Rules
PEACHTREE CITY, Ga., Nov. 14 /PRNewswire-FirstCall/ -- World
Airways, a wholly owned subsidiary of World Air Holdings, Inc.
(NASDAQ:WLDAE) announced today that the International Brotherhood
of Teamsters (IBT) negotiating team representing World Airways
pilots has rejected the company's final contract proposal.
Negotiations have been ongoing for more than two years since the
contract became amendable in June 2003. The pilots rejected an
earlier tentative agreement in March 2004. The final proposal
included a one-time signing bonus, annual pay increases over three
years, profit sharing, major improvements in working conditions and
further improvements in most of the sections of the contract under
mediation. World Airways has asked the National Mediation Board
(NMB) to release the company from mediation, but will continue to
work under the auspices of the NMB until such time that the parties
are released. If the NMB releases World Airways and the IBT from
mediation, arbitration will be offered. If that offer is declined,
it will trigger a 30-day cooling off period, during which time the
parties may continue to talk. "We believe this was a fair and
equitable offer to bring a long negotiation process to conclusion,"
said Charlie McDonald, World Airways chief operating officer. "We
regret their decision to turn down pay rates and working conditions
that would be among the best in the non-scheduled airline industry.
We remain committed to our objective of getting a fair agreement
out to our pilots for a vote." World Airways, a wholly owned
subsidiary of World Air Holdings, Inc., is a U.S.-certificated air
carrier providing customized transportation services for major
international passenger and cargo carriers, the United States
military, major freight forwarders and international leisure tour
operators. Founded in 1948, World operates a fleet of 17 wide-body
aircraft to meet the specialized needs of its customers. For
information, visit http://www.worldairways.com/. World Air Holdings
has three wholly owned subsidiaries, World Airways, Inc., North
American Airlines, Inc., and World Risk Solutions, Ltd. World
Airways is a charter passenger and cargo airline founded in 1948,
North American is a charter passenger airline founded in 1989, and
World Risk Solutions is an insurance subsidiary established in
2004. For further information, go to
http://www.worldairholdings.com/. DATASOURCE: World Air Holdings,
Inc. CONTACT: Steve Forsyth of World Air Holdings, Inc.,
+1-770-632-8322 Web site: http://www.worldairways.com/
http://www.worldairways.com/
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