NetJets pilots’ pay to rival those at major airlines after new terms approved
Pilots working for NetJets, the world’s largest jet operator, have voted overwhelmingly to approve new contract terms after months of negotiations.
According to a memo sent to pilot members from the NetJets Association of Shared Airline Pilots (NJASAP) 98% of those eligible to vote took part.
Private Jet Card Comparisons reported that 78% (2,390 pilots) of members voted in favor of new contract terms while 22% (662) rejected ratification.
Under the new contract NetJets pilots will receive a 52.5% increase in payment for their services over the next five years, which will cost the private jet company more than $1.6 billion.
“When the last base pay increase is added to pilot pay on May 1, 2029, the pay gap between NetJets and major airlines will be reduced from the current 60% to 4.6% for large-cabin captains and 17.6% for small-cabin captains,” the memo to pilots said.
It added that the agreement “secures a net increase in total pilot compensation of more than $1.6 billion. Stated another way, the Tentative Agreement will result in an average per pilot increase of more than $400,000 in net new compensation in comparison (to the current agreement)”.
NJASAP also said that a 10-year pilot in command (PIC) who holds the “7&7 Schedule will earn an additional $37,604 per year or $3,134 per month after the first increase of 23%”.
Voting on the new contract began on March 15, 2024, and ended on April 12, 2024.
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Pilots working for NetJets, the world’s largest jet operator, have voted overwhelmingly to approve new contract terms after…
The post NetJets pilots’ pay to rival those at major airlines after new terms approved appeared first on AeroTime.
