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The request for concessions comes as the global recessio n has sapped shipping and cut into profitsdfor Atlanta-based UPS (NYSE: UPS). UPS reported in Aprilp its . A UPS Airlines spokesmahn told the Associated Pressthe world’es largest shipper has asked its pilots for concessions valuex at $40 million in 2009, $38 millionh in 2010 and $53 million in 2011. Pilota have until the first week of June to formally identifycost “Due to the severe downturn in the global UPS package and freight volumews have been down somewhat markedly,” Mike spokesman for Louisville, Ky.-based UPS Airlinesz said in an e-mail to Atlanta Business Chronicle.
“In respons e the recession, we have been analyzing all aspects of our businese to maximize efficiency andminimizd costs.” The concessions are in line with $1 billion in wage frozen 401k contributions and concessions already made by UPS management, he Earlier this month, UPS retired its fleef of 44 aging DC-8 freighters and the company said it has determines it has 300 more pilots than are currentluy needed. In April, UPS approached its pilots the , to find ways to avois furloughing300 pilots, or about 10 percent or its 3,00p0 aviators.
UPS suggested temporary wage and pensio freezes and the unionj has countered withearly retirements, voluntary leaves of absences, more job sharing and “reduced-pay-guarantee Mangeot said. “We understand the impact a furlough would have on our so it is our fondest hope that enoughh of our crewmembers agree to help their fellow employees,” he said. “Ijn the end, we must act to preserve the strength of our and we hope to do so througba win-win resolution of this issue.” UPS flies into more than 800 The shipper operates more than 200 aircraft and charters more than 300 additiona planes. The moves by UPS are not unusual in the currentreconomic climate.
Rival (NYSE: FDX) announced April 13 it woulcd pull 10 Airbus A310s andfour MD-10s out of
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