Southwest Airlines Co. (NYSE: LUV) has announced a new tentative agreement with Transport Workers Union Local 555, the union that represents more than 12,000 Southwest Ground Operations, Provisioning, and Cargo Agents, the company said.
The Union´s Executive board reviewed an Agreement in Principle that negotiators reached December 23rd and decided to conduct a ratification vote that could end more than four years of negotiations.
The company said that the new contract not only improves wages and benefits, but it also enhances Southwest´s competitive standing within the industry.
Over the next few weeks, the Union will share the terms of the agreement with its members and conduct a ratification vote. If approved, the contract will become amendable in 2021.
Southwest operates a network of 97 destinations across the United States and seven additional countries with more than 3,900 departures a day during peak travel season.