👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Southwest Airlines customer service employees approve new labor deal

Published 12/15/2022, 04:48 PM
Updated 12/16/2022, 05:21 AM
© Reuters. Passengers check in for a Southwest Airlines flight at Orlando International Airport in Orlando, Florida, U.S., October 11, 2021 . REUTERS/Joe Skipper/File Photo
DAL
-

By David Shepardson

WASHINGTON (Reuters) -Southwest Airlines customer service employees overwhelmingly ratified a new five-year collective bargaining agreement that includes an immediate 13.1% wage increase, the IAM union said on Thursday.

The agreement covers 8,300 customer representatives and service agents and includes a 25.1% general wage increase over four years, which IAM said will put its members at the top of the airline industry’s pay scale for customer service employees.

The labor deal also includes other benefits such as higher bonuses and improved mandatory overtime protections for all employees.

Adam Carlisle, Southwest vice president of labor relations, said in a statement the company is "extremely pleased we can reward them with this new contract, which demonstrates the value they bring to Southwest and is designed to give us additional efficiencies to operate our airline."

Airlines are still working to hire more employees to address rising travel demand following the sharp decline after the start of the COVID-19 pandemic in early 2020.

© Reuters. Passengers check in for a Southwest Airlines flight at Orlando International Airport in Orlando, Florida, U.S., October 11, 2021 . REUTERS/Joe Skipper/File Photo

U.S. airlines are negotiating a number of labor deals with unions, including many in talks with pilots including Southwest.

Delta Air Lines (NYSE:DAL) earlier this month struck a tentative agreement in principle with its pilots that includes a 34% cumulative pay increase over three years. Delta's offer also includes a lump-sum one-time payment, reduced health insurance premiums, and improvements in holiday pay, vacation, company contributions to 401(k) and work rules.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.