Manufacturing Industry
Air Canada holds final meeting with CAW union
Airline Industry Information, May 21, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Air Canada and the Canadian Auto Workers union were scheduled to meet one last time yesterday (20 May) in an attempt to form an agreement on cost savings.
Ontario Supreme Court Judge Warren Winkler ordered the meeting after talks to reach an agreement on cutbacks collapsed on Wednesday (19 May). The union - which represents 5,900 customer service employees - failed to reach an agreement over its share of a CAD200m cost-cutting effort that the carrier is seeking from its employees.
The airline is required to form the cost-cutting agreements in order to secure the backing of Deutsche Bank AG to underwrite a CAD850m rights offering to creditors.
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