Southwest Airlines Co. (LUV) (NYSE: LUV) today announced that it has reached an Agreement in Principle with the Aircraft Mechanics Fraternal Association (AMFA) for the Company's Aircraft Mechanics and Related Employees workgroup. The five-year agreement includes terms for updated work rules, improved wages and benefits, and a ratification bonus.
"I am pleased that we have reached an Agreement in Principle after these extended negotiations with the support and assistance of the National Mediation Board," said Southwest Airlines Vice President of Labor Relations Russell McCrady. "The agreement is good for our People and helps Southwest (SWX) maintain an efficient operation."
"I appreciate everything our Employees do each day to ensure that our Southwest fleet is safe and reliable. This agreement rewards their efforts with an industry-leading offer," said Southwest Airlines Vice President of Maintenance Operations Landon Nitschke.
The Agreement in Principle will be committed to final contract language before it is sent to affected Employees for a vote. The date for a ratification vote will be determined in the coming weeks.
The current AMFA contract became amendable on August 17, 2012. Mediation was filed by AMFA on July 6, 2015. AMFA represents over 2,400 Southwest Employees in the Mechanics and Related Employees workgroup.