WASHINGTON (dpa-AFX) - Southwest Airlines (LUV) said Wednesday that the company and the Transport Workers Union or TWU 550, representing the carrier's more than 180 dispatchers, have reached a tentative agreement for a new, five-year contract through November 2014.
It will be presented to Southwest dispatchers pending a final review and approval from the TWU 550 Board of Directors. In the next few weeks, the TWU 550 membership will be given the details of the agreement and will have the opportunity to vote on ratification.
The current contract became amendable in November 2009. Early last year, the carrier had sought assistance from the National Mediation Board through the mediation process.
LUV closed on Wednesday at $8.21, up $0.14 or 1.73 percent, on a volume of 8.36 million shares.
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