Southwest Airlines Co. (NYSE: LUV) today announced the Company's Material Specialists, represented by the International Brotherhood of Teamsters (IBT), have voted in favor of a new, five-year contract.
"With this new agreement, our Material Specialists will be rewarded with pay increases throughout the next five years, while the Company gains efficiencies across our operation," said Vice President of Labor Relations Russell McCrady. "I appreciate our relationship with the IBT, and both parties worked hard to reach the best solution for both our Material Specialists and Southwest."
"I am very pleased that our membership decided to ratify a mutually satisfactory agreement that was reached by union negotiators and Southwest Airlines working cooperatively," said Capt. David Bourne, Director of the Teamsters Airline Division.
The more than 300 Material Specialists at Southwest oversee the Company's technical operation inventory management across the network. The newly-ratified contract is effective immediately and becomes amendable in April 2024.
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SOURCE Southwest Airlines Co.