NEWS: United Pilots Get a New Deal

United Airlines and their pilots union announced they have reached a new agreement to replace the one thrown out by the bankruptcy court earlier this month. Voting will now commence and run through the end of January. Apparently the two sides kept the crayons inside the lines drawn by the judge because the new agreement does not challenge any of the aspects that got the original one thrown out. I haven't seen the terms on the new deal but I am sure the numbers will be significant. United has stated before that they expect some of the largest give backs to come from the pilots.

Update: Terms are being reported as a 14% reduction in pay and benefits to the tune of $180 million a year in savings.

Update to the update: Sorry mixing up the terms...thats an 11.8% cut...which as it turns out is the same as the previous agreement. Looks like they focused on cutting out the pension related terms that set the bankruptcy court off.