FedEx Has Money for Shareholders, but Not for Pilots
The FedEx pilot base responded to the company's $1 billion share buyback with derision, noting that the company remains in negotiations over an updated contract since 2021. FedEx will engage in the accelerated share repurchase agreement as "part of its commitment to enhance capital returns to stockholders", according to the Air Line Pilots Association release. Captain Billy Wilson, chair of the FedEx ALPA Master Executive Council, compared the decision to similar air carriers, noting that "American, Delta, United, and, most recently, Southwest have made the right choice to invest in their pilot employees with solid contracts."