Southwest Airlines Co. (LUV) said Monday that its pilots represented by the Southwest Airlines Pilots' Association, voted to ratify the tentative, five-year contract both parties reached last month.
The new contract is active through August 31, 2011. The current Southwest Pilot contract became amendable on August 31, 2006. Southwest Airlines and its pilots' association began contract negotiations in September 2006.
The new contract rewards Southwest Airlines Pilots' Association membership for the company's past two years of profitability, while making a critical move to tie the next two years' compensation to the company's financial performance.
Southwest Airlines Pilots' Association is made up of more than 5,900 Pilots.
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