Southwest Airlines (LUV), Pilots Ratify New Agreement
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Southwest Airlines Co. (NYSE: LUV) announced today that its Pilots have ratified a new collective bargaining agreement. According to the Southwest Airlines Pilots' Association (SWAPA), 84.26 percent of Pilots who cast ballots voted in favor of the deal.
"This contract recognizes and rewards our Pilots for their professionalism and leadership," said Alan Kasher, Vice President Flight Operations. "Beyond the compensation and work rule improvements, this forward-looking agreement delivers the operational flexibility needed to grow our network and ensures that Southwest will remain well-positioned for long-term success in our intensely-competitive industry."
New contractual terms, including a new wage scale and bonus provisions, will be implemented according to an agreed timeline. Negotiations began in 2012 and have been guided by the National Mediation Board (NMB) since 2014.
"We would like to thank our Mediators and the Board members of the NMB for their assistance in helping us reach this agreement," said Russell McCrady, Senior Director of Labor Relations.
The newly-ratified contract becomes amendable in November 2020.
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