Global delivery giant FedEx and the Transport Workers' Union (TWU) have reached an in-principle deal on a new enterprise bargaining agreement (EBA), marking the end of a marathon negotiation between major delivery and logistics firms and the union.

The new EBA announced includes a wage increase between 9.25 per cent and 9.75 per cent subject to Consumer Price Index (CPI) over three years, as well as an additional 2 per cent increase in superannuation during a three-year period, reaching 13 per cent in 2023.

The agreement also includes a commitment from both parties to review the agreed wage increase at the two-year mark against the Consumer Price Index, capped at 3.5 per cent.

But it is still pending final approvals from the union members and the Fair Work Commission.

Peter Langley, vice-president from FedEx Express Australasia, said it was "good news" for Australian businesses ahead of a busy holiday season.

"We are so pleased to be able to recognise and reward all the hard work that our team members have contributed throughout the pandemic in order to support our wider community."

The union's NSW/QLD secretary Richard Olsen welcomed the agreement and said it was a "fair deal".

"It was critical, essential transport workers at FedEx received sustainable wage rises which keep up with the cost of living, significant increases to superannuation and provisions which lock in their job security."

The union also noted that FedEx's wage offer is the largest, but not by much, as FedEx workers were arguably paid less than their peers.

Under the current agreement, some FedEx workers can earn up to 11 per cent less than workers in comparable roles in other transport companies, according to the union.

The agreement concludes a round of bargaining between the union and Australia's major transport companies, affecting over 20,000 transport workers.

Toll and Australia Post's parcel subsidiary StarTrack have also recently reached new EBAs with their workers, bringing an end to strike action.

Toll drivers will get an initial pay rise of 2.75 per cent and a second wage increase in line with the inflation rate up to 4 per cent, before mid-2023.

StarTrack workers won similar provisions of 3 per cent pay rises every year for three years.

The industry was facing a pre-Christmas parcel delivery crunch.

Earlier this year, thousands of workers from Toll and StarTrack went on strike.

FedEx locked workers out of its Sydney distribution centre as part of an escalating industrial dispute last month.

But that's unlikely to happen again given the latest in-principle agreement, and FedEx said that was not an ongoing policy.