Money was the major issue between crewmembers and the Polar subsidiary of Atlas Air Worldwide Holdings, Inc. The new 18-month contract provides a 10.5% pay increase effective June 1, 2005, an increase in Polar’s 401k Plan matching contribution and a 4% lump-sum payment to be paid on August 1 next year, based on crewmember earnings from June 1, 2005 through May 31, 2006.
With the agreement, the holding company can now proceed with merging the workforces of Atlas Air and Polar Air. “Ratification of this contract by our Polar Crewmembers sets the stage for the merger of our two Crew workforces under one contract in 2006,” says Jeffrey H. Erickson, president and CEO of Atlas Air Worldwide Holdings, Inc.
