A union representing over 11,000 mechanics and other employees at United Airlines secured an in-principle agreement for a new contract following two years of bargaining, it said on Tuesday.

• The new contract agreed by the Teamsters United Airlines union will provide a $5,000 signing-on bonus per member, totaling $54 million.

• The union said it “fully recommends ratification of this agreement.”

• The contract promises “industry-leading wage increases” and brings down “wage progression to top-of-scale pay” to five years, from the current eight-year period.

• Union members will have the opportunity to review the full contract and vote for ratification once the details and language of the contract are finalised.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shailesh Kuber)