Deal reached between Air Canada and its staff could mean bigger revenue and value for investors
Canada’s largest airline has been working with the Canadian Union of Public Employees (CUPE) to negotiate terms with its attendants that benefit both parties. It is thought that a 10-year agreement has been approved and that it’s good news for stakeholders.
While the Canadian Union of Public Employees has approved the deal, they did say in a statement that it had been done so by a narrow margin. Specific details were not given.
The agreement should mean no strikes for a decade although the agreement is subject to certain openers. This comes after years of unrest with the Air Canada workforce and such security can reassure investors in the company too.
This deal with CUPE follows another new agreement last month with 3000 of Air Canada’s pilots. Their collective agreement also was penned for ten years. This new deal covers 6500 flight of the company’s attendants and 700 at its low-cost alternative Air Canada Rouge.
Benjamin Smith, president at Passenger Airlines said: "This ten-year landmark agreement with CUPE is a historic development which will help Air Canada achieve its global ambitions while acknowledging the important contribution of our flight attendants.”
It is the fifth collective agreement reached by Air Canada and its unions, including those with Unifor representing the airline's 4,000 Customer Service and Sales Agents in Canada. By ensuring those working for them feel secure and
“With this agreement now in place we can focus on long term profitable growth for the benefit of all of our stakeholders."
Calin Rovinescu, president and chief executive officer backed up Smith by saying the deal ‘is yet a further indication of the collaborative partnership that is building Air Canada into a Global Champion.’
This is good news for stakeholders as profits are expected to rise.
While the Canadian Union of Public Employees has approved the deal, they did say in a statement that it had been done so by a narrow margin. Specific details were not given.
The agreement should mean no strikes for a decade although the agreement is subject to certain openers. This comes after years of unrest with the Air Canada workforce and such security can reassure investors in the company too.
This deal with CUPE follows another new agreement last month with 3000 of Air Canada’s pilots. Their collective agreement also was penned for ten years. This new deal covers 6500 flight of the company’s attendants and 700 at its low-cost alternative Air Canada Rouge.
Benjamin Smith, president at Passenger Airlines said: "This ten-year landmark agreement with CUPE is a historic development which will help Air Canada achieve its global ambitions while acknowledging the important contribution of our flight attendants.”
It is the fifth collective agreement reached by Air Canada and its unions, including those with Unifor representing the airline's 4,000 Customer Service and Sales Agents in Canada. By ensuring those working for them feel secure and
“With this agreement now in place we can focus on long term profitable growth for the benefit of all of our stakeholders."
Calin Rovinescu, president and chief executive officer backed up Smith by saying the deal ‘is yet a further indication of the collaborative partnership that is building Air Canada into a Global Champion.’
This is good news for stakeholders as profits are expected to rise.
