Union for United Airlines' mechanics, other staff, secures in-principle pact for new contract

July 21 (Reuters) - A union representing over 11,000 mechanics and other employees at United Airlines UAL.O secured an in-principle agreement for a new contract following two years of bargaining, it said on Tuesday.

• The new contract agreed by the Teamsters United Airlines union will provide a $5,000 signing-on bonus per member, totaling $54 million.
• The union said it "fully recommends ratification of this agreement."
• The contract promises "industry-leading wage increases" and brings down "wage progression to top-of-scale pay" to five years, from the current eight-year period.
• Union members will have the opportunity to review the full contract and vote for ratification once the details and language of the contract are finalised.