Signing Follows Three Years Of Negotiations

International Brotherhood of Teamsters, Airline Division, Teamsters Local 1108 and Flight Options, LLC, a Cleveland-based provider of luxury business jet fractional ownership and jet card programs, announced Wednesday that the pilots had ratified a first labor agreement.

"The new contract with Flight Options is the basis for a strong labor-management partnership between the Teamsters and Flight Options, LLC," said Capt. David Bourne, Teamsters Airline Division Director. "A first contract that works for pilots and their families, as well as management and Flight Options customers, is a great achievement for the entire industry."

"This was a significant milestone for Flight Options. Since our inception, our flight crews have been the cornerstone of our operation," said Kenn Ricci, Chairman of Flight Options. "The new agreement further solidifies Flight Options' position as a premier employer of pilots and ensures the long term success of our company."

After more than three years of negotiations, the Teamsters reached a tentative agreement with Flight Options, LLC management on January 28, 2010. Ballots were counted in Cleveland, Ohio on March 31, 2010. The agreement was ratified by 88 percent of the union's membership.

"This contract would not be possible without the collective effort of the entire organization," said Michael Silvestro, CEO. "I am particularly proud of the fact that we are able to make a significant financial commitment to our pilots even in this difficult economic environment."

The parties will convene in mid-April for an official contract signing ceremony. The new agreement provides for an immediate salary increase, longevity increases, additional paid time off, job security protections, an expansive basing system, and a grievance and arbitration process.

"This contract is the product of thousands of hours of work and a joint commitment to the success of our pilots and the company," said Capt. Mat Slinghoff, President of Teamsters Local 1108. "The pilots I represent have achieved a milestone and they look forward to playing an active role in the company's future success."

FMI: www.flightoptions.com