OREANDA-NEWS. February 23, 2016. Southwest Airlines Co. (NYSE: LUV) today announced that its Ramp, Operations, Provisioning, and Cargo Agents have narrowly approved the tentative agreement that was reached with Union negotiators in late December. The Transport Workers Union (TWU) Local 555 reports that 50.4 percent of those who cast ballots voted in favor of the five-year contract agreement.

The new contract provides wage increases and work rule improvements, while at the same time enhances Southwest's competitive standing within the industry. Company Leaders have long credited Southwest's unparalleled success to its Employees, who consistently deliver a great product, and to the Company's low-fare business model.

"We've looked forward to being able to properly recognize the efforts of our Ramp, Operations, Provisioning, and Cargo Agents," said Southwest Airlines Executive Vice President and Chief Operating Officer Mike Van de Ven. "This agreement gives us that opportunity—it allows us to reward them and demonstrates the support we offer our People."

Negotiators for Southwest and TWU 555, which represents more than 12,000 Southwest Ground Operations, Provisioning, and Cargo Agents, began contract discussions in mid-2011. The newly ratified contract becomes amendable in 2021.