Very short synopsis... My take without notes so some stuff may be missing or slightly inaccurate.

Gag order on both sides discussing specifics. No public negotiating is good business, and its also legally required by the NMB at this stage.

Company is now offering full contract proposals. This allows both sides to "fill the blanks" on total compensation and benefits. This signals the "beginning of the end..." of negotiations. In the past when things got to this stage you everyone stayed close to table until deal was complete. This time there was a recess. One of the management side had a personal emergency. Expect to reconvene after 4th of July Holiday.

Pilots were cautioned that just because deals are being discussed does not mean deal is pending. SS reminded pilots our goals have not changed and not to mistake the current exchanges as indicative a deal is imminent. Is simply means we are no longer working piecemeal with sections. However, in 2006, this bargaining went fairly fast once both parties started trading proposals.

Due to the gag order, specifics could not be discussed, but here was some of the points made:

The company still needs to bring MORE money to the table. Areas that the pilots have demanded include (but aren’t limited to…)

Industry leading pay rates (because we work harder than anyone else)
Keeping our Buy Up Health care plan
Improving our retirement by protecting purchasing power and reducing the gap between current and retirement income
Insuring FedEx pilots are trained and evaluated by line holding pilots AND that those pilots are protected under a CBA

Other issues covered were improving new hire compensation and training expenses. The legacies are hiring about 500 pilots a month. While there is not a shortage of pilots willing to work at FedEx (yet), the regionals are parking airplanes for lack of crews. Many pilots no longer have FedEx as high on their list and are more interested in Delta or the other legacies at the moment. If FedEx really wants to attract the best pilots, it needs to make the transition to the company less painful for new hires. There has not been a new hire pay raise since the 1990s, and it should not be a hazing process to join this company. One point that was made was that because of our lower cycles (takeoffs and landings) you cannot hire a low time pilot and bring them to FedEx to season them. Our pilots need to show up with the experience to work in one of the most challenging environments in the business. That means we not only need pilots, but need to attract solid, experienced pilots. As the NC said…”…and that costs money….because they are worth it…”

Only comment on where we are was “the company’s offer was not sufficient, but it was not insulting…” It was also stated that both sides were bargaining in good faith, something that management was accused of not doing as recently as six months ago. Having been on the MEC in the past I can tell you FedEx has no problem passing down “insulting” offers here and there so I did take that as a little hint of optimism in a very pragmatic environment.

Questions were fielded but very little that hasn’t been discussed before. One person did question rumor we had “given up first class…” for rolling deviation banks. NC replied that currently the company does not have to book first class in certain situations and we’ve all seen the “FC not available” disclaimer. What has been TA’d in section 8 is a LIE FLAT seat must be available for certain segment lengths. If business class offers a full lie flat seat the company may book that vice a FC seat. Again—my facts my not be 100% accurate here but doing the best I can based on what I recall. The MECs effort to have “full language” vice bullets points in the contract is to whittle out any gray areas or loopholes used to wiggle out of paying for a decent seat when we deadhead. (Editorial comment follows) I’ll gladly give up an Emirate FC ticket on a 380 with shower if I can still lay flat in business class, and my bros in MEM aren’t getting flown to the west coast in RJs connecting in DEN or PHX.

My recommendation is this: Don’t get too wrapped up in details until we see a full TA to review. If we get a TA, based on industry trends and pattern bargaining it had better be pretty lucrative, especially after a 2 year wait. A late summer deal might be possible, but keep your powder dry and don’t be shocked if instead of a TA we are discussing requests for release from the NMB and some self help.