Ahead of the holidays, FedEx leans on special bonuses to keep pilots from retiring [CNBC]
United Parcel Service, Inc. (UPS)
Last united parcel service, inc. earnings: 4/28 07:00 am
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Source: CNBC
Santa's sleigh cannot fly without its pilot. With the peak holiday shipping season fast-approaching, global package delivery giant FedEx is paying retirement-age pilots bonuses of $40,000 — and potentially as much as $110,000 — to keep them flying into next year, according to two sources with knowledge of the matter and a contract seen by Reuters. The bonuses, outlined in the latest pilot contract and previously unreported, reveal that a wave of pilot retirements, global pilot shortages and rising cargo demand fueled by the growth of global e-commerce are straining the world's largest air delivery fleet. Any problem in maintaining capacity for FedEx, which many economists consider a barometer of U.S. economic strength, disrupts supply chains at a time when they are already being destabilized by international trade tensions. FedEx and rival United Parcel Service , which is trying to recruit hundreds of pilots this year but is not paying bonuses, play a crucia
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