Manufacturing Industry
Air Canada granted bankruptcy protection extension
Airline Industry Information, May 24, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Air Canada has won a four-month extension of its bankruptcy protection after securing labour concessions from all of its union groups.
The airline was granted the extension after securing labour concessions with the holdout union - the Canadian Auto Workers union, which represents about 5,900 customer service employees. The union had earlier failed to agree to the concessions, threatening the airline's reorganisation plan.
The carrier's bankruptcy protection has now been extended to 30 September 2004, reported Reuters.
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