ADVFN - Advanced Financial Network.
HOME» NYSE » S » LUV Stock Price » LUV Stock News

Southwest Airlines Share News

 Southwest Airlines Stock Price
LUV Stock Price
 Southwest Airlines Stock Chart
LUV Stock Chart
 Southwest Airlines Stock News
LUV Stock News
 Southwest Airlines Company Information
LUV Company Information
 Southwest Airlines Stock Trades
LUV Stock Trades

Delta Air To Sublease Southwest's Boeing 717 Fleet

DOW JONES NEWSWIRES Delta Air Lines Inc. (DAL) will begin taking delivery of Boeing Co. (BA) 717 aircraft as early as 2013 and has agreed to sublease all 88 of Southwest Airlines Co.'s (LUV) Boeing 717s over three years. Delta reached a tentative labor agreement with the Delta Air Line Pilots Association. The contract, which covers more than 12,000 Delta pilots, will be presented for ratification through June 30. The agreement modifies the profit-sharing program for pilots to 10% of profits from 15% on the first $2.5 billion of profits, effective Jan. 1. The plan will continue to pay 20% of profits above $2.5 billion. A voluntary early-retirement option recently offered to Delta's other employee groups will also be available to Delta pilots upon ratification of the tentative agreement. If ratified, the agreement will accelerate Delta's domestic fleet restructuring strategy. To that end, Delta said it will lease 88 Boeing 717 aircraft currently in service at Southwest's AirTran Airways Inc. unit, primarily to replace 50-seat regional jets and some older DC-9 aircraft still in service. The agreement in principle with Southwest also gives Delta the flexibility to acquire up to 70 larger two-class, 76-seat regional jets as the Boeing 717 aircraft are delivered to Delta. Delta currently operates 255 larger two-class regional jets and the fleet will be increased to 325 aircraft. "These actions pave the way for us to restructure and upgauge our domestic fleet, which will lower our costs, provide more pilot jobs and improve the onboard experience for our customers," said Delta Chief Executive Richard Anderson. The tentative agreement between Southwest and Delta would transfer the 717s over three years at a rate of about three aircraft per month beginning in mid-2013 with completion in 2015. Southwest said it won't release any additional details about the deal at this time. "This is a very complex transaction that requires time and close coordination with multiple parties," said Southwest Chief Operating Officer Mike Van de Ven. "While we do have a tentative agreement with Delta, final details must be completed with all parties before a binding agreement between Delta and Southwest can be completed." --By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Southwest Airlines (LUV)
DateTimeHeadline
06/29/201406:17:43MARKET SNAPSHOT: Utilities, Airlines Seen At Risk In Second Half...
06/14/201420:55:03U.S. Job Openings Return to Prerecession Levels
06/12/201416:43:41MARKET SNAPSHOT: U.S. Stocks Fall; S&P 500 Down For Third Day
06/12/201414:52:18MARKET SNAPSHOT: U.S. Stocks Fall; Dow In Triple-digit Decline
06/12/201414:51:30U.S. Stocks Fall to Session Lows
06/12/201410:29:47MARKET SNAPSHOT: U.S. Stocks Edge Lower; Energy Sector Rallies
06/11/201419:00:07GAO Study Finds Little Decline in Competition on U.S. Air Routes
06/10/201416:30:20United to Award Miles Based on Ticket Price
05/08/201409:51:13U.S. Hot Stocks: Hot Stocks to Watch
03/10/201413:11:08Major U.S. Airlines Tote Up Effects of Winter Storms
01/27/201412:10:07Southwest Starts Offering International Flights
01/23/201409:50:08Southwest Profit Rises on Revenue Growth
01/17/201415:30:16Earnings Season Heats Up -- Week Ahead
01/09/201416:50:11MARKET SNAPSHOT: S&P 500 Ekes Out Gains, But Dow, Nasdaq Drop
01/09/201411:54:50MARKET SNAPSHOT: U.S. Stocks Fall Ahead Of Jobs Data
12/12/201317:19:15MARKET SNAPSHOT: Stocks Drop For Third Day; Nasdaq Ends Below...
12/12/201316:39:30MARKET SNAPSHOT: Stocks Drop On Mixed Economic News
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201307:59:25Soros Fund Management 3Q 13F: Largest Eliminations

Southwest Airlines and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad