11/11/2023 0 Comments Southwest airlines pilot pay![]() ![]() The current system is a 401(k) in which Southwest partly matched the worker’s contribution. The retirement plan will switch to a defined contribution program, in which Southwest automatically will invest 13.4 percent of a pilot’s salary next year and put in at a higher rate the following two years. Voting on Delta’s proposed accord begins Thursday. Southwest union leaders tried unsuccessfully to re-open part of their contract during voting to negotiate a bigger increase. ![]() ![]() negotiated a tentative agreement with higher rates. airlines typically seek industry- leading pay in contract talks, a goal the Southwest union said it achieved before peers at Delta Air Lines Inc. That’s a change the carrier had sought to attract more passengers at little added costs as it expands in Mexico, the Caribbean and Latin America. discounter, won the right to form marketing agreements with other carriers on some of its nascent international routes. The accord also boosts retirement benefits. It includes a 15 percent pay increase to cover years the pact was being negotiated and 3 percent annual raises. Pay for Southwest pilots would increase 29.4 percent compounded over the term of the four-year agreement, the union said. The airline, which generally seeks productivity improvements in order to hold down expenses, still is negotiating with three other unions. 31 approval of a contract for flight attendants that kept them the best paid in the industry. The vote is the second victory in a week for Southwest in efforts to nail down future labor costs, following the Oct. More than 96 percent of pilots cast ballots, the union said. “This has been an incredible year of pilot unity and resolve,” Jon Weaks, union president, said in a statement. The labor group, which represents 8,500 aviators, and the airline negotiated more than four years on the accord. The agreement was approved by about 84 percent of those voting, the Southwest Airlines Pilots’ Association said in a statement Monday. Green Airport, approved a new contract that will boost pay almost 30 percent over its term and improve retirement benefits while falling short of recent raises proposed at some rival U.S. "We have offered the union negotiators a competitive proposal that considers current market conditions and provides generous compensation and retirement enhancements.Pilots at Southwest Airlines Co., the biggest carrier at T.F. ![]() "We sincerely appreciate everything our pilots do for our customers and company," said Southwest's statement. Southwest said the pilots need to work through the areas of disagreements at the negotiating table rather than in public. Still the airlines say they're committed to improving wages for their employees. They also say the carriers need to reinvest in the airlines, buying new planes and fixing their balanced sheets. 2015 was a record year for airline profits.īut the airlines argue that increasing competition have resulted in the typical airfare across the industry falling. The pilots point to strong profits that full planes and low fuel prices have produced for airlines in recent years. Pilots in much of the industry made deep contract concessions during bankruptcies across much of the industry during last decade, although Southwest was one carrier that avoided a trip to bankruptcy or pay cuts for pilots. Now it is the Delta pilots' time," said the union's statement. "All other employees, shareholders and investors have benefited from Delta's success. ![]()
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