Tue, Jun 19, 2012
Airline's Version Of The Agreement Is Chosen, Concluding The Negotiations
Air Canada said Sunday that it along with the International Association of Machinists and Aerospace Workers (IAMAW) have received the decision of the arbitrator, Mr. Michel Picher, in the final offer selection arbitration conducted in accordance with the process legislated by the federal government in the Protecting Air Service Act.
The arbitrator's selection of Air Canada's final offer concludes a new collective agreement with the IAMAW following negotiations and mediated talks that took place over a period of 14 months. The five-year collective agreement is in effect until March 31, 2016.
The new collective agreement maintains the current defined benefit pension plan for current employees, introduces a new IAM multi-employer pension plan for new employees hired after today's date, contributes to the reduction of the pension deficit and, as required by the legislation, establishes a protocol for the sustainability of the pension plan taking into account any short term funding pressures on the company.
The airline will not have further comment as details of the new collective agreement are being communicated to its employees.
The IAMAW represents 8,600 mechanics, baggage handlers and cargo agents employed by Air Canada.
Air Canada is Canada's largest domestic and international airline serving more than 175 destinations on five continents.
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