Southwest pilots highest paid?

Status
Not open for further replies.

kiowa

Advanced
Aug 27, 2002
146
0
Aviation Week reports on August 26th 2002 that Southwest pilots will recieve a 28.54% to 41.91% raise over the course of their contract extention. Will that make them the highest paid in the industry? Even more than Delta pilots? certainly the highest paid 737 pilots at $240,000/year at the high end of the raises.
 

N421LV

Member
Aug 21, 2002
85
0
----------------
Aviation Week reports on August 26th 2002 that Southwest pilots will recieve a 28.54% to 41.91% raise over the course of their contract extention. Will that make them the highest paid in the industry?
----------------


No, even with the raises we will still be way behind Delta 737 rates.
 

Rhino

Senior
Aug 20, 2002
308
0
SWA options granted the pilot group may indeed be worth quite a bit someday.

SWA does not have an A fund or comprehensive retirement medical.

Very difficult to compare compensation packages.

I don't think you'd see too many SWA pilots willing to trade places with a peer at another airline, though.
 

G4G5

Advanced
Aug 21, 2002
164
0
I just spoke with a LUV buddy. He told me that it's not just the hourly rate. Their's stock options, 10,000 shares with a very low strike price.

The author of the article may have been adding in the stock options based upon LUV's stock and the previous pilot options.
 
OP
K

kiowa

Advanced
Aug 27, 2002
146
0
The numbers came from SWA CEO James Parker. He States the LOW end if the pay scale, this year, before most of the raises, will earn $189,120. I wonder how much SWA mechanics and flight attendants make.
 

Rhino

Senior
Aug 20, 2002
308
0
<The numbers came from SWA CEO James Parker. He States the LOW end if the pay scale, this year, before most of the raises, will earn $189,120. I wonder how much SWA mechanics and flight attendants make.>

The pilot #s were discussed on SWA board, 'low end' Capatins make significantly less. What the options will be worth someday is unknown and dependent upon how many each individual was granted and how he chooses to exercise them.

Mechs just got a TA, no details released yet.

FAs are in Section 6 negotiations.
 

Busdrvr

Veteran
Aug 20, 2002
2,217
0
[blockquote]
----------------
On 9/6/2002 11:57:14 PM kiowa wrote:

The numbers came from Southwests CEO. I don't know why he would lie about pilot salaries.
----------------
[/blockquote]

You are kidding right? The current hourly rate at SWA for a 12 year Capt is below the 4th year 767 F/O rate at DAL. The DAL contract also has a defined benefit retirement plan and paid retiree medical. But the SWA guys should be congratulated, the new contract is a big improvement over the last.
 
OP
K

kiowa

Advanced
Aug 27, 2002
146
0
The numbers came from Southwests CEO. I don't know why he would lie about pilot salaries.
 

Busdrvr

Veteran
Aug 20, 2002
2,217
0
[blockquote]
----------------
On 9/3/2002 8:56:51 AM G4G5 wrote:

I just spoke with a LUV buddy. He told me that it's not just the hourly rate. Their's stock options, 10,000 shares with a very low strike price.

The author of the article may have been adding in the stock options based upon LUV's stock and the previous pilot options.
----------------
[/blockquote]

Options are at a little over 12 right?
 
Status
Not open for further replies.