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Member, Beacon International Group, Ltd.
Pilots at Delta Air Lines Inc. have ratified a new contract that includes over $7 billion in cumulative increases in pay and benefits over four years and is widely expected to be a benchmark for contract negotiations at rival carriers, Reuters reports. Delta's new contract provides a 34% cumulative pay increase, a lump-sum one-time payment, reduced health insurance premiums and improvements in holiday pay, vacation, company contributions to 401(k) and work rules.