June 11 (Reuters) - Leaders of Delta Air Lines Inc’s pilot union approved a tentative labor deal that provides for base pay increases and a revision in the airline’s profit sharing formula.
The Delta Master Executive Council (MEC), a unit of the Air Line Pilots Association, will present the tentative agreement to pilots for a ratification vote. If pilots vote for it, the agreement will have an amendable date of Dec. 31, 2018, Delta said late Wednesday.
If the deal is ratified, Delta will have a new contract about six months before it can officially be amended on Dec. 31. In contrast, union deals at other U.S. airlines took multiple years to reach.
Delta will buy 20 Embraer SA E190 aircraft held by Boeing Co as well as 40 new Boeing 737-900ERs upon ratification of the deal, the airline said.
Delta’s shares were up slightly at $41.22 in premarket trading on Thursday. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Saumyadeb Chakrabarty)