Financial reports from Air Canada

Air Canada Reaches Tentative Deal with Pilots, Avoids Strike with 42% Pay Raise

Sep 15, 2024, 02:01 PM

Air Canada and the Air Line Pilots Association (ALPA) have reached a tentative agreement on a new four-year contract, narrowly avoiding a strike that could have disrupted operations. The deal, announced shortly after midnight on September 15, includes a 42% pay raise for the pilots over the contract period. This agreement comes after intense negotiations, with both parties being in a position to issue a 72-hour strike notice as of 12:01 a.m. on Sunday. The potential strike had already begun causing disruptions, and Air Canada had been preparing to cancel flights and shut down operations starting September 18 if no deal was reached. The new contract is expected to cost Air Canada C$1.9 billion and covers 5,200 pilots. Labour Minister praised both sides for reaching an agreement and avoiding a disruptive strike, bringing relief to passengers and business groups. The agreement also ensures the continuation of more than 1,000 daily flights worldwide.