United Has Agreement in Principle with Pilots

CHICAGO ( TheStreet) -- United ( UAL) and its pilots reached an agreement in principle on the key areas in their long simmering contract dispute, which has stalled progress on the 2010 merger between United and Continental.

The Air Line Pilots Association "reached agreements in principle with United Continental Holdings Inc. management on all major economic and scope provisions of the joint collective bargaining agreement after two years of bargaining and with the assistance of the National Mediation Board," said Jay Hepner and Jay Pierce, chairmen of the ALPA chapters at United and Continental, in a letter to members.

Work remains on some non-economic issues that will continue in the days ahead, the pilots said.

United was not immediately available for comment.

-- Written by Ted Reed in Charlotte, N.C.

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