Overview

• Southwest Airlines pilots have approved a new labor agreement, averting a potential strike.
• The new $12 billion contract offers a 50% pay raise over a five-year period.
• The agreement was ratified by a 93% to 7% margin, following more than three years of bargaining.
• The contract includes an immediate 29.15% pay raise, followed by 4% raises in 2025, 2026, and 2027, and a 3.25% increase in 2028.
• The contract also includes changes to pilot retirement, scheduling and parental-leave programs.