Southwest Airlines, pilots reach tentative agreement

Southwest Airlines (NYSE: LUV) said it has announced a new tentative agreement with the Southwest Airlines Pilots´ Association (SWAPA).

SWAPA´s board of directors reviewed an agreement in principle that negotiators reached earlier this month and decided to conduct a ratification vote that could end more than three years of negotiations.

The company said the agreement offers wage increases and work-rule changes that will benefit the pilot group and position Southwest to continue its expansion both domestically and internationally.

Union leaders will communicate with pilots over the next few weeks to share the details and terms of the agreement. The ratification vote will close November 4. If pilots approve the deal, the contract will become amendable April 1, 2019.