MEMPHIS, Tenn. (AP) - Pilots for FedEx Corp. have voted to approve a six-year contract that includes pay raises, according to their union.

MEMPHIS, Tenn. (AP) Pilots for FedEx Corp. have voted to approve a six-year contract that includes pay raises, according to their union.

The Air Line Pilots Association said Tuesday that the contract includes higher hourly pay rates, a signing bonus and improvements in the retirement plan.

The union did not immediately disclose the vote tally.

The contract takes effect next month and will come up for renegotiation in 2021. The pilots fly for FedEx's express-shipping business.

Pilots at rival United Parcel Service Co. are voting through Friday whether to give union leaders authorization to call a strike. The vote doesn't mean that a strike is imminent. Before the pilots could legally strike, federal mediators would have to agree that additional negotiations would be pointless.

Shares of FedEx rose 71 cents to $153.09 in afternoon trading. They began the day down 12 percent in 2015.