Southwest pilots to vote on contract for 50% raise

BLOOMBERG

Southwest Airlines Co pilots will vote next month on a proposed new contract that would boost pay 50% over the five-year term of the deal and could end a multiyear round of negotiations and protests at the four largest US carriers.
The board of the Southwest Airlines Pilots Association decided to send the agreement to its roughly 11,000 pilots for a vote, set for January 8 through January 22. The proposal would increase pay 29.15% when it is approved, followed by annual raises of 4% each on the first day of 2025, 2026 and 2027, plus a 3.25% increase on Jan. 1, 2028. The 50% boost is on a compounded basis, the union said.
Approval of the contract, which the union said will cost $12 billion, would make Southwest the final pilot union among the four biggest carriers to sign a new deal in less than 12 months, following Delta Air Lines Inc, American Airlines Group Inc and United Airlines Holdings Inc.
Aviators at all four carriers picketed often since travel resumed after the pandemic, rallying outside company offices and meetings and at airports as their unions sought new deals with higher pay and improved work-life balance
as carriers pulled in record revenue.
“Our membership has fought for almost four years to reach an agreement with Southwest Airlines,” said Casey Murray, union president. “They now have the opportunity to evaluate this deal and cast their vote accordingly.” Under the agreement, captains with at least 12 years seniority would see their pay climb to $368.47 per “trip” from $317.25, while a first-year first officer would have an increase to $135.20 from $116.41, according to the union.