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Pilots at FedEx Corp., owner of the world’s biggest cargo airline, approved a six-year contract that provides a signing bonus, annual increases in hourly pay and more options for health-care benefits.

FedEx Corp. net income rose 6% to $692 million, or $2.42 per share, for the fiscal first quarter ended Aug. 31, helped by stronger results at the Express unit and held back by slow-moving U.S. and world economic trends.

FedEx Corp. agreed to buy 50 Boeing Co. 767 freighters with a list value of about $10 billion, the model’s largest-ever order, as it upgrades the fleet at the FedEx Express unit.

In the latest of a series of recent worker-status rulings, a federal appeals court upheld a Kansas Supreme Court decision last year that classified about 500 FedEx Ground drivers as employees rather than independent contractors under that state’s law.

FedEx Corp.’s decision to settle a California driver-status case for $228 million likely will trigger more attacks on the independent contractor model nationwide, experts predicted.

FedEx Corp. said net income was $753 million, or $2.66 per share, excluding one-time costs, for its fiscal fourth quarter ended May 31, reflecting stronger results at the Express, Ground and Freight units.

FedEx Corp. reported net income, excluding one-time costs, of $753 million, or $2.66 per share, for its fiscal fourth quarter ending May 31 that included improved results at the Express, Ground and Freight units.

FedEx Corp. has agreed to pay $228 million to settle long-running lawsuits in California that challenged the status of workers at its Ground unit, who are classified as contractors by the company.

FedEx Corp. announced a 25% increase in its dividend to 25 cents per share.