SOUTHWEST AIRLINES ANNOUNCES TENTATIVE AGREEMENT FOR FLIGHT SIMULATOR TECHNICIANS

Southwest Airlines Co. (NYSE: LUV) has reached a Tentative Agreement with the International Brotherhood of Teamsters (IBT) Local 19 for a new collective bargaining agreement for its Flight Simulator Technicians.

Rhea-AI Summary

Southwest Airlines Co. (NYSE: LUV) has reached a Tentative Agreement with the International Brotherhood of Teamsters (IBT) Local 19 for a new collective bargaining agreement for its Flight Simulator Technicians. This group, comprising over 50 employees, provides important maintenance and engineering support for the company's flight training equipment. The agreement marks a significant milestone, as 11 out of Southwest's 12 union-represented workgroups have ratified new agreements since October 2022.

Southwest Airlines, known for its employee-first culture and no-layoff policy, operates across 117 airports in 11 countries. The airline carried over 137 million customers in 2023 and has maintained 47 consecutive years of profitability for shareholders. Southwest is also committed to achieving net zero carbon emissions by 2050, focusing on a three-pillar strategy to meet its environmental goals.

Positive

• Tentative Agreement reached with Flight Simulator Technicians union
• 11 out of 12 union-represented workgroups have ratified new agreements since October 2022
• Maintained 47 consecutive years of profitability for shareholders
• Carried over 137 million customers in 2023

Negative

• None.

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DALLAS, Sept. 9, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) and the International Brotherhood of Teamsters (IBT) Local 19, which represents the airline's Flight Simulator Technicians, have reached a Tentative Agreement for a new collective bargaining agreement.

"Our Flight Simulator Technicians help keep our flight training facility operating nearly 24 hours a day and play a pivotal role in Southwest's mission to support a safe and reliable operation," said Adam Carlisle, Vice President Labor Relations at Southwest Airlines^®. "I am pleased they will have the opportunity to vote on a new contract."

Southwest^® has more than 50 Flight Simulator Technicians who provide maintenance and engineering support for the Company's flight training equipment. Since October 2022, 11 of Southwest's 12 union-represented workgroups have ratified new agreements.

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 117 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 74,000² People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among more than 137 million Customers carried in 2023. That formula for success has 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 2050⁴. Southwest has also set near-term targets and a three-pillar strategy to achieve its environmental goals. Learn more by visiting Southwest.com/planet.

1. Based on U.S. Dept. of Transportation quarterly Airline Origin & Destination Survey since Q1 2021   
2. Fulltime-equivalent active Employees        
3. 1973-2019 annual profitability      
4. Our net zero by 2050 goal includes Scope 1, Scope 2, and Scope 3 Category 3 emissions only and excludes any emissions associated with non-fuel products and services, such as inflight service items.  

View original content:https://www.prnewswire.com/news-releases/southwest-airlines-announces-tentative-agreement-for-flight-simulator-technicians-302242489.html

SOURCE Southwest Airlines Co.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the recent labor agreement announcement for Southwest Airlines (LUV)?

Southwest Airlines (LUV) has reached a Tentative Agreement with the International Brotherhood of Teamsters (IBT) Local 19 for a new collective bargaining agreement covering its Flight Simulator Technicians.

How many Flight Simulator Technicians does Southwest Airlines (LUV) employ?

Southwest Airlines (LUV) employs more than 50 Flight Simulator Technicians who provide maintenance and engineering support for the company's flight training equipment.

What is Southwest Airlines' (LUV) progress on union agreements as of September 2024?

As of September 2024, 11 out of Southwest Airlines' (LUV) 12 union-represented workgroups have ratified new agreements since October 2022.

What is Southwest Airlines' (LUV) environmental goal for 2050?

Southwest Airlines (LUV) has set a goal to work toward achieving net zero carbon emissions by 2050, focusing on a three-pillar strategy to meet its environmental objectives.