© Reuters. Southwest airline pilots strategy to land at San Diego International airport in San Diego, California, U.S., May 18, 2023. REUTERS/Mike Blake/File Photo
(Reuters) -Southwest Airlines and its pilots’ union have been nearing a brand new labor deal forward of the vacation season, an individual acquainted with the negotiations stated on Friday.
Shares of the provider have been up 3.4% in afternoon commerce.
The settlement might take a few weeks to type out among the excellent points, the particular person stated with out offering any particulars on the phrases of the deal.
Southwest in an emailed assertion to Reuters stated, “Both negotiating teams are working hard to close out the few remaining items.” The firm stays dedicated to reaching a deal that rewards its pilots and locations them competitively within the trade, it added.
North American pilots and flight attendants have been pushing for higher pay and dealing circumstances throughout their talks over new job contracts with the corporate administration.
The provider in October had reached a tentative settlement with the Transport Workers Union Local 556, representing almost 19,000 flight attendants.
Earlier this 12 months, main carriers American Airlines (NASDAQ:), Delta, and United Airlines efficiently reached agreements with their respective pilot unions.
CNBC first reported that Southwest was nearing a brand new contract with the union.