SWA Pilots highest paid in industry?

kiowa

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Aug 27, 2002
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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.
 

Rhino

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Aug 20, 2002
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No, SWA pilot pay is about 40% behind the top paid narrow body drivers, though that gap will narrow with OAL concessions and SWA raises.

SWA retirement programs (no A fund, limited medical) are also behind ther larger carriers.
 

Rhino

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Aug 20, 2002
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Not sure what is meant by 'low end.'

A 12 year Captain is topped out, though some 12 year Captains make much more than others (fly extra, fly your line, give away trips). 100 trips/month is close to average.

A 100 trip/month, 12 year Captain now makes $134/trip. That's $160,800, not including per diem.
 
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kiowa

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Aug 27, 2002
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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.
 

Tanker

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Aug 20, 2002
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Parker includes the stock options when he says that SWA are the highest paid. Going by straight pay a 12 year Capt today makes $133.92 per trip. On 9/1/06 at a minimum a 12 year Capt will make $173.63 (a raise of 29.7%). If we get all of the profitability raise a 12 year Captain on 9/1/06 will make $175.07 (but if we get all the profitability raises that rate will be reached on 9/1/05)
 

Busdrvr

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Aug 20, 2002
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On 9/3/2002 10:46:37 PM

Parker includes the stock options when he says that SWA are the highest paid.
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I thought all the options were at a strike price of 12.something. Is he "assuming" a certain level of astronomical stock price growth based on the last ten years? You'd better keep an eye on that guy.
 
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kiowa

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Aug 27, 2002
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He said he was basing it on 80 hours of flight time per month. The LOW end, I assume means without stock options. If not maybe Herb needs to return.

 

Rhino

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Aug 20, 2002
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Kiowa, this whole issue is pretty complex. There are too many ***umptions to be made. The amount of options one gets varies, how you think the stock will perform, etc/

Don't take JP's remarks out of context.