Air Canada reaches final labor deal, looks for new financing

06/23/2009 | Reuters

Air Canada, seeking peace with labor unions as a condition for receiving new loans, has reached a tentative deal with 6,700 flight attendants to extend their current contract by 21 months. The Canadian Union of Public Employees was the last major group to reach an agreement with the carrier. "These tentative agreements will allow us to move forward to the next milestones: obtaining the necessary governmental measures and approvals for the pension funding arrangement and raising new financing," said CEO Calin Rovinescu in announcing the deal.

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