Southwest Airlines reaches tentative agreement with IBT for its material specialists

Southwest Airlines Co.
LUV,
-0.16%
announced Tuesday that it has reached a tentative agreement with the International Brotherhood of Teamsters, the union covering the air carrier’s material specialists. IBT will present the agreement, which covers more than 480 material specialists, to its members for a vote. “We are pleased to reach a tentative agreement with the IBT for our material specialists who support our technical operations organization by having the right tools and parts ready to maintain our aircraft,” said Adam Carlisle, vice president labor relations at Southwest. “I appreciate both Teams working together to reach an agreement that rewards our Employees far before the amendable date for this contract.” Southwest’s stock, which slipped 0.6% in morning trading, has gained 3.4% over the past three months, while the U.S. Global Jets ETF
JETS,
-1.41%
has inched up 0.4% and the S&P 500
SPX,
-0.33%
has tacked on 5.4%.