AIRLINES

Continental Pilots Give Thumbs-Up to Pact: The Houston-based carrier’s pilots have overwhelmingly approved their first labor contract in nearly 12 years, with 93.3% voting by mail for approval from about 2,500 union members, union President Bob Wilson said. Company and union negotiators agreed to the deal June 28. The agreement was formally signed Thursday evening. The two-year contract, retroactive to July 1, includes a 13.5% base wage increase for pilots on July 1, 1996, and a 5% base wage increase on July 1, 1997. It also includes a $20-million cash payment that will probably be paid in mid-October, an amount equal to $5,263 for each of the 3,800 pilots. The payment will be divided among captains and first and second officers.