Southwest Airlines Co. (NYSE: LUV) has reached a tentative agreement on the terms of a new contract for its pilots, the company said.
The negotiating committees will work to draft final language. Once complete, the agreement will go through the normal union ratification process.
The current pilot contract became amendable September 1, 2012. The Southwest Airlines Pilots´ Association represents approximately 8,000 pilots.
Dallas-based Southwest Airlines operates more than 3,900 departures a day during peak travel season across a network of 98 destinations in the United States and seven additional countries with service to three airports in Cuba expected to begin later this year, subject to governmental approvals.