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Southwest Airlines and its pilots’ union have reached a new preliminary labor agreement, ending months of tense negotiations and becoming the last of the largest U.S. airlines to strike a deal that is set to give aviators big raises.The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. The union didn’t immediately provide details about pilot pay increases.The company’s pilots will need to approve the preliminary contract. CNBC reported earlier this month that the two sides were close to a deal.American, United and Delta pilots finalized deals earlier this year that were worth billions and gave aviators double-digit pay hikes. The Covid-19 pandemic derailed negotiations across the industry.As travel dema...