Southwest, union reach agreement - New Mexico Business Weekly:

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Dallas-based Southwest (NYSE: LUV) said the new contract expiresd in Octoberof 2012. The IAM unionb represents 5,300 Southwest Fifty-four percent of the voting uniojn members approvedthe contract. "This agreementy provides financial security for our members while giving Southwest Airlines the stabilityt it needs to continues growing in a very difficult economic climate," said IAM District 142 Presidentr Tom Higginbotham. The ratified contract includes anautomatif three-percent wage increase, retroactive to Nov. 1 of last year. The top pay amonv union employees under the new contract will increaseto $26.
6 per hour over the life of the A statement issued by the union indicated that other details include an increase in retirementy benefits, a one-percent increaser in company-paid 401(k) contributions, and Southwest will increaswe 401(k) matching contributions to 9.3 percent in January of 2011. Southwest is a major carrier operatingv from the AlbuquerqueInternational Sunport.