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October 6, 2005 9:30 AM, EDT

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ilot crewmembers of Polar Air Cargo have ratified a contract agreement reached between Polar and the Air Line Pilots Association, effectively ending a four-week long strike, Polar said.

Polar expects to restore scheduled service operations again quickly, with initial flights to begin late Thursday.

The union’s leadership had approved the contract Sunday, after going on strike in mid-September. (Click here for previous coverage.)

The 18-month contract provides for a 10.5% pay increase retroactive to June 1, an increase in the company’s 401k Plan matching contribution, and a 4% lump-sum payment due Aug. 1, 2006, Polar said in a statement.

Ratification of this contract . . . sets the stage for the merger of our two crew workforces under one contract in 2006,” Jeffrey Erickson, chief executive officer of Polar’s parent Atlas Air Worldwide Holdings, said.