Southwest pilots would land big pay hike in tentative deal

Southwest Airlines Co.'s (LUV) pilots union on Wednesday said its 11,000-plus members would vote on a tentative agreement with the airline for a big pay hike and better benefits. The pilots will be voting on the tentative deal until Jan. 22, after the board of the union, the Southwest Airlines Pilots Association, voted on Wednesday to send the tentative agreement to the pilots for consideration. The agreement - which would amount to a roughly 50% pay increase under the $12 billion contract - would run through December of 2028. The boosts in pay would occur over the next four years. The tentative deal also includes "improvements to work rules and flying schedules, better disability coverage, and increases to retirement benefits." Adam Carlisle, vice president of labor relations at Southwest, said in a statement that the agreement would give the pilots "industry-leading pay rates and numerous quality-of-life enhancements, while also providing opportunities for operational improvements." Shares were down 1% on Wednesday.

-Bill Peters

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12-20-23 1646ET

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