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Air Canada regional flight attendants OK cost cuts
By Charles Grandmont, Reuters http://money.excite.com/jsp/nw/nwdt...&feed=reu&news_id=reu-n25157553&date=20030625
MONTREAL, June 25 (Reuters) - Air Canada's (AC) cost-cutting demands have been approved by flight attendants at its regional unit, the attendants' union said on Wednesday, marking another step in the complex restructuring of the insolvent airline.
Flight attendants at the regional unit, called Jazz, approved a new six-year contract, which includes up to 90 layoffs and a 7.5 percent pay cut, by an 82 percent margin, the Teamsters Canada union said.
The new agreement should help Air Canada save around C$2.3 million ($1.5 million) a year, a union spokesman said.
Air Canada is seeking to reduce its labor costs by C$1.1 billion per year as part of a court-supervised restructuring that began on April 1.
All of Air Canada's unions except the pilots and the flight attendants at its main line have approved concessions.
The airline, the country's dominant carrier and world's No 11, is losing C$5 million a day because of the slump in the travel market and increased competition in the Canadian skies.
Regional Flight Attendants having to cough up givebacks? YGBSMe. You can't tell me Canadians aren't a bit...different. Congratulations, Air Canada. You are 1/1000th of the way to your cost cutting goal.
By Charles Grandmont, Reuters http://money.excite.com/jsp/nw/nwdt...&feed=reu&news_id=reu-n25157553&date=20030625
MONTREAL, June 25 (Reuters) - Air Canada's (AC) cost-cutting demands have been approved by flight attendants at its regional unit, the attendants' union said on Wednesday, marking another step in the complex restructuring of the insolvent airline.
Flight attendants at the regional unit, called Jazz, approved a new six-year contract, which includes up to 90 layoffs and a 7.5 percent pay cut, by an 82 percent margin, the Teamsters Canada union said.
The new agreement should help Air Canada save around C$2.3 million ($1.5 million) a year, a union spokesman said.
Air Canada is seeking to reduce its labor costs by C$1.1 billion per year as part of a court-supervised restructuring that began on April 1.
All of Air Canada's unions except the pilots and the flight attendants at its main line have approved concessions.
The airline, the country's dominant carrier and world's No 11, is losing C$5 million a day because of the slump in the travel market and increased competition in the Canadian skies.
Regional Flight Attendants having to cough up givebacks? YGBSMe. You can't tell me Canadians aren't a bit...different. Congratulations, Air Canada. You are 1/1000th of the way to your cost cutting goal.
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