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Southwest Airlines (LUV) Peps Up Employees Via Pay Hike

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With air-travel demand picking up, Southwest Airlines (LUV - Free Report) reportedly decided to approve a pay hike for its hourly employees. The impending increment, which will take effect on Aug 1, is aimed at retaining its existing employees apart from attracting workers to match the anticipated demand swell this summer.

Per the plan, this currently Zacks Rank #3 (Hold) Dallas-based low-cost carrier decided to up the minimum salary to $15 an hour for about 7,000 employees. Additionally, the raises will be in the 7-11% range for the new hirees. Moreover, this pay-hike plan will cover the call center operators, customer service agents, skycaps and others. However, the company will have to negotiate with labor unions before the increased wage materializes for some labor groups.

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The recent northward movement of air-travel demand (particularly for leisure) as more and more people get vaccinated, provided a boost not only to Southwest Airlines but to other carriers as well including the likes of Delta Air Lines (DAL - Free Report) , United Airlines (UAL - Free Report) and American Airlines (AAL - Free Report) . This healthy-booking scenario prompted airlines to adopt a slew of measures like addition/resumption of routes and plans to hire pilots.

Southwest Airlines’ employee-oriented strategic move is also in response to the improving air-travel environment. Other airlines too might jump on the bandwagon to keep and attract workers.

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