Republic Airways pilots have ratified a new agreement that includes historic increases to compensation and retirement benefits. Of the pilots represented by Teamsters Local 357 who participated, 91.5 percent voted in favor of the agreement.
Under the new agreement, First Officers will see pay increases of 70 to 90 percent, with new First Officers receiving a 94 percent increase. Captains, including senior Captains already near or at the top of the industry, will see a 54 percent increase. These rates are permanent, with no snap-back provisions that have been seen at other carriers.
In addition to wage increases, this agreement includes a significant improvement to the current retirement program. The existing 401(k) match program, which matched up to 9 percent of pilot contributions and was limited by IRS rules, was replaced with a non-elective defined contribution plan. This new plan will deposit up to 12 percent of a pilot’s earnings into their retirement fund, with no pilot contributions required that would be subject to IRS limitations.
Republic crew bases:
Other significant improvements include 82 to 109 percent increases in override premiums for Check Airmen, 100 percent pay credit for both surface and air deadhead transportation, and a new rostering system that allows more flexibility and transparency for Reserve Pilots.
The previous pilot agreement was amended through a letter of agreement in 2018. Negotiations for this agreement began in January 2020 but were soon paused due to COVID-19 concerns. Negotiations resumed in January of 2022.
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Top Copyright Photo: Republic Airways Embraer ERJ 170-200LR (ERJ 175) N402YX (msn 17000364) YYZ (TMK Photography). Image: 956902.
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