Southwest Airlines
and its pilots’ union have reached a new preliminary labor agreement that would give pilots 50% cumulative pay increases over the life of the contract, a deal that could end years of tense negotiations.
Southwest is the last of the largest U.S. passenger airlines to strike a deal that is set to give pilots big pay hikes.
The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. In comparison, larger rival United Airlines
’ new four-year pilot contract is worth about $10 billion, according to the aviators’ union.
Southwest’s pilots will need to approve the contract. CNBC reported earlier this month that the company and the union were close to a deal.
www.cnbc.com/2023/12/19/southwest-airlines-pilots-union-reach-labor-deal.html