Southwest contract terms released
By Carolyn Pritchard, CBS MarketWatch.com
Last Update: 11:19 PM ET July 1, 2004
SAN FRANCISCO (CBS.MW) - Southwest Airlines flight attendants could get an average pay hike of as much as one-third over the next six years, according to terms of the tentative labor contract released Thursday.
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Southwest Airlines contract terms released
Bond, Asian ETFs surrender gains in Q2
Southwest strikes tentative deal with flight attendants
More news for LUV
The low-cost carrier and the 7,400 flight attendants, represented by Transport Workers Union Local 556, struck the deal last Friday, ending two years of negotiations.
Details of the agreement weren't made available at the time, according to Thom McDaniel, president of TWU local 556, because they had not been disclosed to the attendants.
Media reports Thursday noted the terms of the proposal include an average pay raise of 31 percent over the terms of the contract. Union members also may be eligible for stock options for the first time,
The contract is retroactive to June 1, 2001 and runs through May 31, 2008.
Members of the TWU 556 will vote on the agreement between July 16 and July 30, with voting results scheduled to be announced July 30.
By Carolyn Pritchard, CBS MarketWatch.com
Last Update: 11:19 PM ET July 1, 2004
SAN FRANCISCO (CBS.MW) - Southwest Airlines flight attendants could get an average pay hike of as much as one-third over the next six years, according to terms of the tentative labor contract released Thursday.
Free! Sign up here to receive our Midday Market Report e-Newsletter!
Southwest Airlines contract terms released
Bond, Asian ETFs surrender gains in Q2
Southwest strikes tentative deal with flight attendants
More news for LUV
The low-cost carrier and the 7,400 flight attendants, represented by Transport Workers Union Local 556, struck the deal last Friday, ending two years of negotiations.
Details of the agreement weren't made available at the time, according to Thom McDaniel, president of TWU local 556, because they had not been disclosed to the attendants.
Media reports Thursday noted the terms of the proposal include an average pay raise of 31 percent over the terms of the contract. Union members also may be eligible for stock options for the first time,
The contract is retroactive to June 1, 2001 and runs through May 31, 2008.
Members of the TWU 556 will vote on the agreement between July 16 and July 30, with voting results scheduled to be announced July 30.
