Air Canada (OTCQX:ACDVF) said Monday it is finalizing contingency plans to suspend most of its operations as talks with the Air Line Pilots Association (ALPA) have reached a deadlock over the union’s excessive wage demands.
Talks between the company and ALPA, representing more than 5,200 pilots at Air Canada and Air Canada Rouge, continue, but the parties remain far apart, the airline said, adding that it “believes there is still time to reach an agreement with the pilot group, provided ALPA moderates its wage demands which far exceed average Canadian wage increases.”
Unless a deal is reached, beginning on September 15, 2024, either party may issue a 72-hour strike or lock out notice, which would trigger the carrier’s three-day wind down plan.
Air Canada Express flights will continue to operate, as third-party carriers Jazz and PAL Airlines provide these services. However, these regional partners only carry about 20% of Air Canada’s daily customers, many of whom ultimately connect on Air Canada flights.
Source link
