WASHINGTON, Jan. 24, 2011 /PRNewswire-USNewswire/ -- The International Brotherhood of Teamsters has reached a tentative agreement on an industry-leading labor contract between UPS and its aircraft mechanics.

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The agreement comes after four years of negotiations involving Teamsters Local 2727, the Teamsters Airline Division, UPS and the National Mediation Board.

"This is an excellent offer and a win for airline labor," said Capt. David Bourne, Director, Teamsters Airline Division. "We are proud to present such a strong package to our brothers and sisters, particularly in such an uncertain economy."

The tentative agreement's key components include:

• An industry-best top rate
• Continued free healthcare benefits
• Significant retroactive pay and other lump sum payments for past years
• Numerous work rule improvements, including a new Aviation Safety Awareness Program and company concessions that will bring vendor work in house.

The proposed contract would run through Nov. 1, 2013, when it would again become amendable and will go immediately go into effect upon ratification by the membership. The contract will be put to a vote by UPS aircraft mechanics in the near future.

UPS Airlines employs 1,200 aircraft mechanics and related employees represented by the Teamsters in the United States.

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States, Canada and Puerto Rico. For more information, visit www.Teamster.org.

SOURCE International Brotherhood of Teamsters