Southwest Airlines (LUV), FMT Enter Agreement in Principle Over New Contract
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Southwest Airlines Co. (NYSE: LUV) announced that negotiators have reached an Agreement in Principle for the Company's Facilities Maintenance Technicians. Terms of the five-year deal include a complete set of work rules, a wage scale, and a ratification bonus. If ratified, the agreement would become the group's first contract since being accreted into the Aircraft Mechanics Fraternal Association (AMFA).
"We appreciate our Facilities Maintenance Technicians and their contributions to the success of Southwest Airlines," said Senior Director Corporate Facilities John Zuzu. "This agreement recognizes their efforts, and it supports the needs of our operations and our Company."
The Agreement in Principle is subject to final review by AMFA's National Executive Committee before it is submitted to its members for a vote. A date for a ratification vote will be determined in the coming days.
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