An Allegiant Air MD-83 passenger jet takes off from the Monterey airport in Monterey, California, February 26, 2012. REUTERS/Michael Fiala/file photo Acquire Licensing RightsAug 17 (Reuters) - Allegiant Travel (ALGT.O) said on Thursday it has ratified a two-year extension of a contract agreement with Teamsters union representing some of its workers. Allegiant Air carrier parent said the agreement provides for significant increases in compensation rates and extends the contract by two years till Oct. 31, 2028 for 683 workers. The employee group includes line and heavy maintenance technicians as well as stores employees and some administrative maintenance staff, the company said. Earlier this week, Southwest Airlines (LUV.N) reached a tentative labor agreement with the union that represents about 17,120 transport workers who handle ramp, operations, provisioning and cargo.

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Persons: Michael Fiala, Sourasis Bose, Shinjini Organizations: REUTERS, Teamsters, Allegiant Air, Southwest Airlines, Thomson Locations: Monterey, Monterey , California, Bengaluru