Hawaiian Airlines’ pilots union has reached a tentative agreement with the company on a new four-year contract that includes substantial pay increases, including current industry- leading rates for the carrier’s new cargo operation.

The Air Line Pilots Association’s agreement includes an average 32.9% pay increase over the duration of the deal for Hawaiian’s five aircraft types, including an average 16.6% increase on date of signing. It adds a signing bonus, raises company retirement contributions, creates a new health reimbursement account, increases schedule flexibility and improves pilot quality of life.

Pilots’ mandatory retirement age set by the Federal Aviation Administration is 65 for captains and first officers in multipilot operations.

Hawaiian’s 1,000 pilots still need to ratify the contract. Two weeks of voting will begin Jan. 27, and if ratified, the agreement would take effect March 2.

“We believe this industry-standard agreement represents a monumental step forward in terms of overall compensation and quality of life gains,” Hawaiian’s ALPA Master Executive Council Chair Capt. Larry Payne said in a statement. “Hard-fought negotiations between the Negotiating Committee and the Company have now yielded what the MEC believes to be an agreement that accomplishes the goals our pilots set for us when we opened talks two years ago.”

One of the highlights of the proposed agreement is the pay rate for Hawaiian’s future fleet of Airbus A330F freighters, which it will begin flying for Amazon in the second half of this year. The A330F rates will be the highest in the industry, surpassing existing rates at cargo giants UPS and FedEx Express.

On Oct. 21, Hawaiian announced an eight-year agreement with Amazon to provide flight operations and maintenance services for Amazon’s air cargo operation. Amazon will provide a minimum of 10 A330F freighters, and the company will provide crew and line maintenance for this fleet. In support of this business, the company will open one or more mainland bases for crew and maintenance. Under the agreement, Amazon can grow its fleet with Hawaiian above the initial 10 aircraft and extend the contract beyond the initial eight-year term.

“We are pleased to have reached a tentative agreement that recognizes the contributions of our pilots and helps position Hawaiian to successfully compete and grow,” the company said in a statement.

Hawaiian offers approximately 130 daily flights within the islands, daily nonstop flights between Hawaii and 15 U.S. gateway cities, and service connecting Hono­lulu and American Samoa, Australia, Japan, New Zealand, South Korea and Tahiti. Hawaiian will begin serving the Cook Islands in May.

The company will report its fourth-quarter and full-year results Jan. 31. Hawaiian, which has been affected by an interisland battle with Southwest Airlines and a continued lag in visitors from Japan, lost nearly $190 million during the first nine months of 2022.

Hawaiian’s shares are up 17.8% so far this year and closed Thursday down 10 cents at $12.09.