SOUTHWEST AIRLINES MECHANICS & RELATED EMPLOYEES APPROVE NEW COLLECTIVE BARGAINING AGREEMENT

Rhea-AI Summary

Southwest Airlines announces new collective bargaining agreement with Mechanics and Related Employees.

Positive

• Mechanics and Related Employees voted in favor of a new collective bargaining agreement.
• The agreement provides industry-competitive compensation and wage increases for employees.
• The new agreement strengthens the relationship between Southwest Airlines and its union partners.
• The agreement covers 2,870 Mechanics and Related Employees.

Negative

• None.

DALLAS, July 27, 2023 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) announced today that its Mechanics and Related Employees, represented by the Aircraft Mechanics Fraternal Association (AMFA), voted in favor of a new collective bargaining agreement. It is the seventh contract ratified by Southwest Airlines^® and its union partners since October 2022.

"Our Mechanics and Related Employees bring their technical expertise in many areas and do a great job maintaining Southwest's fleet of Boeing 737 aircraft," said Adam Carlisle, Vice President Labor Relations at Southwest Airlines. "This contract provides them with industry-competitive compensation while continuing to support the needs of our operation."

"We are proud of both negotiating committees who worked hard during these negotiations to reach a deal," said Bret Oestreich, AMFA National President. "This agreement represents a return to our mutually beneficial relationship of years past with Southwest Airlines. We are proud that we were able to negotiate an agreement that shows our members that they're appreciated and respected, while being recognized for their professionalism and hard work."

"The new industry-leading agreement provides wage increases that rightfully compensate our Members for their Boeing 737 knowledge and skill sets. With the wage increases in this contract extension, Southwest will be able to attract and retain the professional, talented workforce it needs while allowing the company to grow and prosper," Oestreich said.

This agreement covers Southwest's 2,870 Mechanics and Related Employees, which includes the Company's Aircraft Maintenance Technicians, Aircraft Inspectors, Maintenance Controllers, Training Instructors, and Ground Support Equipment Technicians, and becomes amendable on August 16, 2027.

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 121 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 71,000² People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among more than 126 million Customers carried in 2022. That formula for success 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 2050. Southwest has also set near-term targets and a four-pillar strategy to achieve its environmental goals. Learn more by visiting Southwest.com/planet. 

¹U.S. Dept. of Transportation most recent reporting of domestic originating passengers boarded   
²Fulltime-equivalent active Employees     
³1973-2019 annual profitability    

View original content:https://www.prnewswire.com/news-releases/southwest-airlines-mechanics--related-employees-approve-new-collective-bargaining-agreement-301887898.html

SOURCE Southwest Airlines Co.

FAQ

What is the news about?

The news is about Southwest Airlines announcing a new collective bargaining agreement with its Mechanics and Related Employees.

What does the agreement provide?

The agreement provides industry-competitive compensation and wage increases for the employees.

How many employees are covered by the agreement?

The agreement covers 2,870 Mechanics and Related Employees.

When does the agreement become amendable?

The agreement becomes amendable on August 16, 2027.