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Southwest Airlines Pilots Secure 50% Pay Raise
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Southwest Airlines' pilots have secured a $12 billion contract deal, including a 50% pay raise over 5 years, with immediate wage increases of 29.15% and subsequent annual raises of 4% until 2028. After the contract ends, pilots will receive bonuses of 2.5% per year until a new agreement is reached.
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How might the significant pay raise impact the overall financials of Southwest Airlines?
In what ways could this contract deal influence the labor relations landscape in the aviation industry?
What strategies might other airlines employ to attract and retain pilots in a competitive job market?
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