Where is my wallet?
A few innacuracies, here is the story
http://www.cbc.ca/stories/2004/04/27/bu ... ada_040427
inverter wrote:Concerning the AC issue, that if you ask me has eluded any sane buisiness man around, why haven't they gone under yet? It has been loosing money for a very very long time. So get it over with and close the doors. The pilots get paid way to much for the canadian market. I understand that they need to pay alimony to one, two even three ex-wives, but it still doesn't justify receiving 200K a year.
Panama Jack yawns with a bored look
All the employees could work for free right now and AC would still be in bad shape. Then we could say Westjet and Northern Stix Air Service's pilots are overpaid too. [/i]
-President Ronald Reagan
MONTREAL, May 19 /CNW Telbec/ - Air Canada announced that it has reached
an impasse after 16 days of discussions with the CAW aimed at achieving the
CAW's share of the $200 million cost savings to be achieved in order to
satisfy the labour condition in the Deutsche Bank Standby Purchase Agreement
and the GE Capital Aviation Services (GECAS) Global Restructuring Agreement.
"There was insufficient movement in the union's response to the Company's
offer of May 17 to warrant a continuation of discussions," said Paul Brotto,
Executive Vice President, Cost Control and Planning. "The Company's proposal
to the CAW is consistent with what was agreed to by all other employee groups
at Air Canada and Air Canada Jazz in terms of productivity and wage
reductions. We salute the leadership of ACPA, CUPE, the IAMAW, CALDA, and the
Jazz unions, ALPA, the Teamsters, and CALDA for the tremendous work
accomplished in the past few weeks. We are too close to our goal to turn back.
And so we will immediately commence discussions with Deutsche Bank and GECAS
to determine next steps."
Agreements were reached with the International Association of Machinists
and Aerospace Workers (IAMAW) representing 14,500 technical operations and
airport ground service, finance, cargo and clerical personnel, the Air Canada
Pilots Association (ACPA), representing approximately 3000 pilots at the
mainline carrier, the Canadian Airline Dispatchers Association (CALDA),
representing flight dispatchers. and CUPE, representing approximately
5,800 flight attendants. Tentative agreements have also been reached with all
unions representing Air Canada Jazz employees - the Airline Pilots Association
(ALPA), CALDA, CAW, and Teamsters Canada. Air Canada management and non-
unionized staff have also contributed their share of the $200 million cost
The CAW Airline Division represents approximately 5000 customer sales and
service agents and crew schedulers at Air Canada and approximately 1400
employees at Air Canada Jazz comprised of customer service agents, maintenance
and engineering staff and crew schedulers.
On May 14, 2004, Air Canada and The Office of the Superintendent of
Financial Institutions (OSFI) reached an agreement which satisfies the pension
funding relief condition in the Deutsche Bank Standby Purchase Agreement,
eliminating one of the two remaining conditions that must be satisfied.