Southwest Airlines has reached a tentative labor agreement with its pilots.
The agreement-in-principle will be put forward for a vote by the 11,000-plus members of the Southwest Airlines Pilots Association (SWAPA). Balloting will last until Jan. 22.
The agreement, which would last through December 2028, stipulates an immediate 29% pay raise and a pay rate increase of 50% over the life of the deal.
"The deal also includes improvements to work rules and flying schedules, better disability coverage, and increases to retirement benefits," the union said in a press release.
If Southwest pilots approve the agreement, it will end years of negotiations on a contract that first became amendable in September 2020.
The past year has brought new pilot labor agreements at American, Delta, United and other carriers, with raises well in excess of 40%.