Market Herald logo


Be the first with the news that moves the market

The pilots union for international courier FedEx said Wednesday it is now one step closer to a work stoppage.

Talks between the company and its union broke off last week, with no further negotiations scheduled as of Wednesday afternoon, the FedEx Express Master Executive Council of the Air Line Pilots Association, International said in a statement.

Negotiations for a new collective bargaining agreement have been ongoing since May of 2021.

“The decision to move closer to a strike authorization vote is the result of nearly six months of federally mediated negotiations that have led to our disappointment with FedEx management’s actions at the bargaining table,” MEC chair and FedEx Capt. Chris Norman said in a statement.

The union said Wednesday it plans to leverage the resources afforded to it under the Railway Labor Act, which governs labour relations in the aviation and railroad industries.

Regulations stipulate a 30-day cooling-off period, which, if enacted now, put the union in a striking position by the early spring.

They voted overwhelmingly in favour of authorizing a strike vote. No date has been set for such a vote.

“FedEx pilots are committed to reaching a deal with management, but we will not waiver in our commitment to deliver a contract that rewards pilots for their sacrifices to build FedEx into the global leader it is today,” said Norman.

“Although a strike authorization vote has not been called at this time, our customers and shareholders should be aware that the pilots may be headed in that direction shortly.”

The U.S. federal government has not said if it would intervene should a strike become imminent.

Based in Memphis, Tennessee, FedEx is one of the world’s largest multinational shipping agencies, with a fleet of 699 aircraft and multiple international hub cities.

FedEx Corp. (FDX) stock was down 1.37 percent at the close of trading Wednesday, trading at US$202.83 on the New York Stock Exchange.

More From The Market Herald

NASA turns to Canadian AI to help in the new ‘space race’

Verses AI (NEO:VERS) is teaming up with the National Aeronautics and Space Administration’s (NASA) Jet Propulsion Laboratory (JPL).

Canada’s big banks post mixed Q4 2023 revenue results

Canadian banks have been reporting their Q4 2023 financial results this week and so far, it has been a mixed bag.