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Southwest Airlines Co. (LUV - Free Report) and International Brotherhood of Teamsters (IBT) announced that they have reached a tentative deal. The provisional deal covers LUV’s more than 480 material specialists.
Per vice president Labor Relations at Southwest Airlines, Adam Carlisle, “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. I appreciate both Teams working together to reach an agreement that rewards our Employees far before the amendable date for this contract.”
It is important to note that the tentative deal will only become effective if it is approved through the ratification voting process. The outcome of this voting procedure will determine the future of this agreement. The details of LUV’s current agreement and voting timeline will be directly communicated to Southwest Airlines’ members by IBT.
Zacks Rank & Stocks to Consider
LUV currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Triton International Limited .
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.83 at the end of second-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
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Southwest Airlines (LUV) & IBT Sign Tentative Agreement
Southwest Airlines Co. (LUV - Free Report) and International Brotherhood of Teamsters (IBT) announced that they have reached a tentative deal. The provisional deal covers LUV’s more than 480 material specialists.
Per vice president Labor Relations at Southwest Airlines, Adam Carlisle, “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. I appreciate both Teams working together to reach an agreement that rewards our Employees far before the amendable date for this contract.”
It is important to note that the tentative deal will only become effective if it is approved through the ratification voting process. The outcome of this voting procedure will determine the future of this agreement. The details of LUV’s current agreement and voting timeline will be directly communicated to Southwest Airlines’ members by IBT.
Zacks Rank & Stocks to Consider
LUV currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Triton International Limited .
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.83 at the end of second-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.