SOUTHWEST AIRLINES ANNOUNCES FINAL LABOR CONTRACT RATIFIED

Rhea-AI Summary

Southwest Airlines (NYSE: LUV) has announced that its Flight Simulator Technicians, represented by the International Brotherhood of Teamsters (IBT) Local 19, have voted to approve a new contract. This marks the successful ratification of all labor contracts for the airline's union-represented workgroups, which account for approximately 83% of Southwest's employees.

The new contract for Flight Simulator Technicians includes increased pay rates, a new Simulation Engineer classification, and maternity and parental leave benefits. It will remain in effect until September 2028. This achievement follows a two-year period during which all 12 union-represented workgroups ratified new contracts, demonstrating Southwest's commitment to its employee-first culture and providing competitive pay and benefits.

Positive

• All labor contracts for union-represented workgroups have been successfully ratified
• New contract for Flight Simulator Technicians includes increased pay rates and additional benefits
• Demonstration of commitment to employee-first culture through competitive pay and benefits

Negative

• None.

Flight Simulator Technicians Approve New Contract;
All Labor Contracts Now Successfully Ratified

DALLAS, Sept. 16, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) and the International Brotherhood of Teamsters (IBT) Local 19 today announced the airline's Flight Simulator Technicians have voted in favor of their new contract.

Southwest Airlines^® has more than 50 Flight Simulator Technicians who provide maintenance and engineering support for the Company's flight training equipment. The new contract includes increased pay rates, a new Simulation Engineer classification, and maternity and parental leave for eligible Employees. It becomes amendable in September 2028.

"Our Flight Simulator Technicians have a critical role in supporting a safe and reliable operation," said Adam Carlisle, Vice President Labor Relations at Southwest Airlines. "I am proud of the work by so many People to help us reach this agreement, as well as the agreements with every one of our union-represented workgroups in the past two years. I look forward to partnering with our unions as we focus on the future."

With this result, all the airline's labor contracts are now closed. Since October 2022, each of the 12 union-represented workgroups, that collectively represent approximately 83% of Southwest^® Employees, have ratified new contracts.

"At Southwest, we pride ourselves in nurturing an Employee-first Culture, and one of the ways we do that is through the pay and benefits we provide to all of our Employees," said Bob Jordan, President, Chief Executive Officer, and Vice Chairman of the Board of Directors at Southwest Airlines. "We are extremely pleased that all of our union-represented workgroups now have contracts in place to provide for their futures while we continue our work to build a sustainable and profitable future for the airline, our Employees, and all of our Shareholders."

ABOUT SOUTHWEST AIRLINES CO.  
Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one- of-a-kind value and Hospitality at 117 airports across 11 countries. Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline¹. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its more than 74,000² People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among more than 137 million Customers carried in 2023. That formula for success has brought industry-leading prosperity and 47 consecutive years³ of profitability for Southwest Shareholders (NYSE: LUV). Southwest leverages a unique legacy and mission to serve communities around the world including harnessing the power of its People and Purpose to put communities at the Heart of its success. Learn more by visiting Southwest.com/citizenship. As the airline with Heart, Southwest has set a goal to work toward achieving net zero carbon emissions by 2050⁴. Southwest has also set near-term targets and a three-pillar strategy to achieve its environmental goals. Learn more by visiting Southwest.com/planet.

1. Based on U.S. Dept. of Transportation quarterly Airline Origin & Destination Survey since Q1 2021   
2. Fulltime-equivalent active Employees        
3. 1973-2019 annual profitability      
4. Our net zero by 2050 goal includes Scope 1, Scope 2, and Scope 3 Category 3 emissions only and excludes any emissions associated with non-fuel products and services, such as inflight service items.  

 

View original content:https://www.prnewswire.com/news-releases/southwest-airlines-announces-final-labor-contract-ratified-302248788.html

SOURCE Southwest Airlines Co.

FAQ

What was the outcome of Southwest Airlines' (LUV) recent labor contract negotiations?

Southwest Airlines (LUV) announced that its Flight Simulator Technicians have approved a new contract, marking the successful ratification of all labor contracts for the airline's union-represented workgroups.

What are the key features of the new contract for Southwest Airlines' (LUV) Flight Simulator Technicians?

The new contract for Southwest Airlines' (LUV) Flight Simulator Technicians includes increased pay rates, a new Simulation Engineer classification, and maternity and parental leave benefits for eligible employees. The contract is set to expire in September 2028.

How many of Southwest Airlines' (LUV) employees are represented by unions?

Approximately 83% of Southwest Airlines' (LUV) employees are represented by unions, covering 12 different workgroups that have all ratified new contracts since October 2022.

When did Southwest Airlines (LUV) complete the ratification of all its union-represented labor contracts?

Southwest Airlines (LUV) completed the ratification of all its union-represented labor contracts in September 2024, with the Flight Simulator Technicians being the final group to approve their new contract.