What are the pilots of World Airways thinking? They go on strike in the midst of the worst airline recession in the history of the industry, and not because of pay cuts like every other airline is taking, but because the raises are not high enough.

With the layoffs just in the Peachtree City headquarters town of World Airways (right outside of the Atlanta Airport and Delta base), there are 3 times that many pilots who are out of work. And it is not like World Airways is not having to pay the same fuel costs as the rest of the industry. Amazing.

World Airways, a subsidiary of Peachtree City, Ga.-based World Air Holdings Inc. (NASDAQ: WLDAE), offered its pilots, represented by the International Brotherhood of Teamsters, two options.

“The first provided a 10 percent signing bonus and a pay increase of 3 percent in the first year and 4 percent annually for each of the next two years,” said Charlie McDonald, World Airways chief operating officer. “The other option offered a 7 percent signing bonus and a 5 percent pay increase in the first year, followed by 3 percent annual increases for each of the next two years. Given the circumstances in the airline industry today, we believe we provided an attractive, comprehensive offer that addressed the major concerns expressed by the pilots during negotiations.”

The strike could result in a loss of customers if prolonged. Some of the commercial flights have been protected through sub-service with other carriers. The contract does not allow World Airways pilots to interrupt U.S. military flying, which is the largest part of the company’s business. via bizjournals.com.