Southwest Airlines

Southwest Airlines: The Southwest Airlines Pilots' Association said Thursday that Southwest officials informed the union that the airline's profits mean that pilots are getting a 3 percent pay raise.

Said the union:

    "Originally valued during contract negotiations as a likely zero percent raise due to the economy and company performance at the time, this wage increase arrives as a minor surprise and a sign of a changing economic climate."

Here's the statement from SWAPA president Carl Kuwitzky:

    "This raise is good news for both our pilot group and Southwest Airlines. The pilots have been willing to tie our pay increases to the success of Southwest Airlines.

    "Our pilots showed great leadership and confidence in our company and we are excited about a future with an improving economy which allows our company to maintain its profitability.

    "The pilots, like all Southwest employees, hope that positive announcements such as the one from the company today signals an end to difficult times and portends a bright, growth-filled future ahead."

Southwest chief financial officer Laura Wright told analysts that the airline accrued $56 million in employee profit-sharing for the third quarter.

Southwest Airlines