Air Canada gets tentative union OK on pension changes

06/9/2009 | Google

Air Canada has reached a tentative pension agreement with three of its largest unions, representing 60% of its total unionized work force. Under the plan, the unions will agree to a 21-month moratorium on pension contributions in exchange for partial employee ownership of the airline. The agreement still faces a number of conditions, including new funding for the airline, approval by rank-and-file members and approval from the Canadian government.

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