ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

LUV Southwest Airlines Co

26.25
-0.16 (-0.61%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Southwest Airlines Co NYSE:LUV NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.16 -0.61% 26.25 26.69 25.945 26.43 10,950,394 01:00:00

Southwest Flight Attendants Widely Reject Labor Agreement

24/07/2015 9:10pm

Dow Jones News


Southwest Airlines (NYSE:LUV)
Historical Stock Chart


From May 2019 to May 2024

Click Here for more Southwest Airlines Charts.

A wide majority of the Southwest Airlines Co. flight attendants turned down a new, six-year labor agreement that their union had said would maintain their industry-leading wages, benefits and work rules.

The attendants' current contract opened for renewal more than two years ago, and the negotiations were difficult because Southwest wanted to hold the line on its relatively generous labor costs at a time it is generating strong profits. That was underscored Thursday when Southwest reported its all-time best result, profit of $608 million in the second quarter, up 31% from the prior year.

In balloting that concluded Friday, 87% of the group voted against the new deal, according to the Transport Workers Union. Some 89% of the eligible group, 12,000 employees, participated in the voting, the union said. "Our membership has given us our marching orders," said Audrey Stone, union president. "The terms...were passionately discussed, debated and ultimately rejected by the employees."

The union said it would continue to talk with Southwest on terms of a new contract. For now, the old agreement remains in force.

The Dallas-based discount carrier also is in negotiations with its pilots, ramp workers and mechanics on new agreements, and the pace of talks has been slow. The National Mediation Board, a federal agency that helps in labor talks in the airline and railroad industry, has been overseeing talks for the 8,000 pilots and the 10,000 TWU-represented ramp workers.

Southwest said the rejected agreement ensured that the attendants would stay atop in the industry in pay and benefits. It also "improved the company's competitiveness with certain work-rule changes and supporting our evolving network," said Randy Babbitt, senior vice president of labor relations. "So naturally we're disappointed that it didn't pass."

Write to Susan Carey at susan.carey@wsj.com

Access Investor Kit for Southwest Airlines Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US8447411088

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


1 Year Southwest Airlines Chart

1 Year Southwest Airlines Chart

1 Month Southwest Airlines Chart

1 Month Southwest Airlines Chart

Your Recent History

Delayed Upgrade Clock