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Southwest's (LUV) Customer Service Employees Get Pay Hike
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Southwest Airlines (LUV - Free Report) received encouraging tidings on the labor front when the union, International Association of Machinists and Aerospace Workers (IAM), covering its customer service employees ratified a pay-related deal.
The union represents 8,300 such employees including customer service employees, customer representatives, customer service agents and source of support representatives of this Dallas-based carrier, currently carrying a Zacks Rank #3 (Hold).
Following the ratification of this five-year deal, concerned employees get an immediate 13.1% wage hike from the current levels. Moreover, they are eligible for a 25.1% general pay hike over the next four years. In addition to the pay hikes, the ratification ensures other benefits like better work-life balance, more bonuses, over-time wage improvements for part-time employees.
Expressing delight at the approval of the deal, Robert Martinez Jr, the IAM International President said, “Congratulations to the Southwest Airlines General Chairpersons for negotiating an industry-leading contract. Your solidarity helped secure a contract that serves as a model for the rest of the airline industry and improves the work-life balance for our members.”
With U.S. airlines being grappling with inadequate staff to meet the buoyant air-travel demand following the pandemic, this employee-friendly deal at LUV is an extremely welcoming development. Satisfied labor groups go a long way in promoting efficient operations.
Shares of Southwest Airlines have gained 3.9% over the past three months, driven by the upbeat air-travel demand, outperforming its industry’s 3.3% appreciation in the same time period.
Image Source: Zacks Investment Research
Key Picks
Some better-ranked stocks in the broader Transportation sector include the following:
Covenant Logistics (CVLG - Free Report) : CVLG offers a portfolio of transportation and logistics services, including asset-based expedited, dedicated and irregular route truckload capacity, besides asset-light warehousing, transportation management and freight brokerage capability.
The gradually improving freight market scenario is a tailwind to Covenant. CVLG’s cost-control efforts are appreciated as well. CVLG currently sports a Zacks Rank #1. The stock has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 10.1% upward over the past 60 days.
Teekay Tankers (TNK - Free Report) : TNK is being well-served by the increase in tanker rates. A gradual ramp-up in economic activities also bodes well. High fuel costs are, however, weighing on the bottom line.
Teekay Tankers currently sports a Zacks Rank #1. TNK’s shares have soared 202% in a year’s time. Over the past 60 days, the Zacks Consensus Estimate for 2022 earnings has moved 87.6% north.
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Southwest's (LUV) Customer Service Employees Get Pay Hike
Southwest Airlines (LUV - Free Report) received encouraging tidings on the labor front when the union, International Association of Machinists and Aerospace Workers (IAM), covering its customer service employees ratified a pay-related deal.
The union represents 8,300 such employees including customer service employees, customer representatives, customer service agents and source of support representatives of this Dallas-based carrier, currently carrying a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Following the ratification of this five-year deal, concerned employees get an immediate 13.1% wage hike from the current levels. Moreover, they are eligible for a 25.1% general pay hike over the next four years. In addition to the pay hikes, the ratification ensures other benefits like better work-life balance, more bonuses, over-time wage improvements for part-time employees.
Expressing delight at the approval of the deal, Robert Martinez Jr, the IAM International President said, “Congratulations to the Southwest Airlines General Chairpersons for negotiating an industry-leading contract. Your solidarity helped secure a contract that serves as a model for the rest of the airline industry and improves the work-life balance for our members.”
With U.S. airlines being grappling with inadequate staff to meet the buoyant air-travel demand following the pandemic, this employee-friendly deal at LUV is an extremely welcoming development. Satisfied labor groups go a long way in promoting efficient operations.
Shares of Southwest Airlines have gained 3.9% over the past three months, driven by the upbeat air-travel demand, outperforming its industry’s 3.3% appreciation in the same time period.
Image Source: Zacks Investment Research
Key Picks
Some better-ranked stocks in the broader Transportation sector include the following:
Covenant Logistics (CVLG - Free Report) : CVLG offers a portfolio of transportation and logistics services, including asset-based expedited, dedicated and irregular route truckload capacity, besides asset-light warehousing, transportation management and freight brokerage capability.
The gradually improving freight market scenario is a tailwind to Covenant. CVLG’s cost-control efforts are appreciated as well. CVLG currently sports a Zacks Rank #1. The stock has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 10.1% upward over the past 60 days.
Teekay Tankers (TNK - Free Report) : TNK is being well-served by the increase in tanker rates. A gradual ramp-up in economic activities also bodes well. High fuel costs are, however, weighing on the bottom line.
Teekay Tankers currently sports a Zacks Rank #1. TNK’s shares have soared 202% in a year’s time. Over the past 60 days, the Zacks Consensus Estimate for 2022 earnings has moved 87.6% north.