Southwest, Material Specialists reach agreement in principle on new contract terms

Southwest Airlines Co. (NYSE: LUV) has reached an Agreement in Principle with the International Brotherhood of Teamsters (IBT) on the terms of a new contract for the company´s Material Specialists, the workgroup responsible for the its technical operations inventory management across the system, the airline said.

Details of the agreement were not released.

Southwest said its negotiating team will be meeting with IBT representatives in the coming days to finalize the contractual language. IBT currently represents approximately 290 Material Specialists.

Dallas-based Southwest Airlines (NYSE: LUV) operates a network of 101 destinations in the United States and eight additional countries with more than 3,900 departures a day during peak travel season. Its 53,000 employees serve more than 100 million customers annually. As of December 31, 2015, it operated 704 Boeing 737 aircraft.