Southwest Airlines Co. (NYSE: LUV) today announced that it has reached a tentative agreement (TA) on the terms of a new contract for its Pilots.

"We appreciate our Pilots and recognize their role in the Company's success," said Executive Vice President and Chief Operating Officer Mike Van de Ven. "With the support and assistance of the NMB, the negotiating teams were able to reach an agreement that balances the needs of our Pilots and the Company."

The Negotiating Committees will work this week to draft final language. Once complete, the agreement will go through the normal union ratification process. Dates and details on a ratification vote will be announced in the days ahead.

The current Pilot contract became amendable September 1, 2012. The Southwest Airlines Pilots' Association represents approximately 8,000 Pilots.

ABOUT SOUTHWEST AIRLINES CO.

In its 46th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by more than 52,000 Employees to more than 100 million Customers annually. Southwest operates more than 3,900 departures a day during peak travel season across a network of 98 destinations in the United States and seven additional countries with service to three airports in Cuba expected to begin later this year, subject to governmental approvals.