United Airlines pilots bag 14% pay raise

• The contract is valued at $1.3 billion over two years

The largest pilots union has approved a contract that would boost the pay of pilots at United Airlines (NYSE: UAL) by more than 14% over the next 18 month.

The latest move will pave the way for similar large wage increases throughout the industry.

The contract provides more than 14.5% cumulative pay increases and enhanced overtime and training pay, said the Air Line Pilots Association (ALPA), which represents over 14,000 pilots at the Chicago-based carrier. For the first time, the contract also includes eight weeks of paid maternity leave.