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On Wednesday, Alaska Air Group (NYSE: ALK ) subsidiary Horizon Airlines and the International Brotherhood of Teamsters announced that Horizon's pilots union, which the Teamsters represent, has approved an extension to its collective bargaining agreement.
The agreement extends the pilots' previous contract, which was signed in November 2010. It fixes the terms of employment for six years, running through Dec. 14, 2018, and provides for "wage increases, improvements in productivity and quality of life, and better job security," the parties said in a statement.
Alaska Air shares are up 0.5% on the news at $46.22.