National Mediation Board Releases World Airways, IBT Pilots From Mediation; Cooling-Off Period Begins
29 Décembre 2005 - 2:12PM
PR Newswire (US)
PEACHTREE CITY, Ga., Dec. 29 /PRNewswire-FirstCall/ -- World
Airways, a wholly owned subsidiary of World Air Holdings, Inc.
(NASDAQ:WLDAE), announced today that the National Mediation Board
(NMB) has released the company and its pilots, represented by the
International Brotherhood of Teamsters (IBT), from the mediation
process that began in January 2004. The NMB issued notice of the
release Dec. 28, 2005, initiating a 30-day cooling-off period
before either party can engage in self-help. Both the company and
the pilots' union negotiating team had requested to be released
from mediation after the negotiating team rejected the company's
final offer. The company has 430 pilots operating wide-body
passenger and cargo aircraft for its U.S. military and commercial
customers. The pilots' contract has a provision that military
flying would continue uninterrupted if a union work stoppage were
to occur at the end of the cooling-off period, which expires at
midnight, Jan. 27, 2006. Negotiations have been proceeding for more
than two years, since the contract became amendable in June 2003.
The pilots rejected an earlier tentative agreement in March 2004.
The recent rejected proposal included a one-time signing bonus,
annual pay increases over three years, profit sharing, major
improvements in working conditions and further improvements in most
of the sections of the contract under negotiation, including job
security concerns. "We believe we made a fair and equitable offer
to bring the negotiation process to a successful conclusion,
especially in an airline industry environment that is experiencing
massive concessionary agreements," said Charlie McDonald, World
Airways chief operating officer. "Over the next 30 days, we remain
committed to continuing to work with the IBT." World Airways, a
wholly owned subsidiary of World Air Holdings, Inc., is a
U.S.-certificated air carrier providing customized transportation
services for major international passenger and cargo carriers, the
United States military, major freight forwarders and international
leisure tour operators. Founded in 1948, World operates a fleet of
17 wide-body aircraft to meet the specialized needs of its
customers. For information, visit http://www.worldairways.com/.
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward looking
statements that are subject to risks and uncertainties including,
but not limited to, the impact of competition in the market for air
transportation services, the cyclical nature of the air carrier
business, reliance on key marketing relationships, fluctuations in
operating results and other risks detailed from time to time in the
company's periodic reports filed with the SEC (reports are
available from the company upon request). These various risks and
uncertainties may cause the company's actual results to differ
materially from those expressed in any of the forward looking
statements made by, or on behalf of the company in this release.
DATASOURCE: World Air Holdings, Inc. CONTACT: Media, Steve Forsyth,
+1-770-632-8322, or Investors, Janice Kuntz, +1-404-352-2841, both
of World Air Holdings, Inc. Web site: http://www.worldairways.com/
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