OREANDA-NEWS. Southwest Airlines (NYSE: LUV) and the International Association of Machinists and Aerospace Workers (IAM), representing the carrier's approximately 6,000 Customer Service Agents and Customer Support and Services Representatives, announced today that the two parties have reached a tentative agreement. The tentative agreement is for a new four year contract and requires Membership ratification. The current contract became amendable in October 2012.

"I applaud the efforts of both parties in reaching a tentative agreement that incorporates rewards and incentives for our hard-working Customer Service Agents and Customer Representatives, while remaining mindful of Southwest's low cost structure and longterm success," said Mike Van de Ven, Southwest Airlines Executive Vice President and Chief Operating Officer. "Reaching mutually beneficial contracts for Southwest and our People remain a top priority for us, and I'm hopeful that this tentative agreement is the first of several to come in the near future."

In the upcoming weeks, the IAM membership will be given the full details of the agreement and have the opportunity to vote on ratification.