Red Ink Bleeds Across The Border | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 07.31.14/Oshkosh Day 4! ** HD iPad-Friendly Version--Airborne 07.31.14/Oshkosh Day 4 **
** Airborne 07.30.14/Oshkosh Day 3! ** HD iPad-Friendly Version--Airborne 07.30.14/Oshkosh Day 3 **
** Airborne 07.29.14/Oshkosh Day 2! ** HD iPad-Friendly Version--Airborne 07.29.14/Oshkosh Day 2 **
** Airborne 07.28.14/Oshkosh Day 1! ** HD iPad-Friendly Version--Airborne 07.28.14/Oshkosh Day 1 **

Mon, May 26, 2003

Red Ink Bleeds Across The Border

Air Canada Announces Cuts, Fleet Changes

Like many major US airlines, Canada's flagship carrier is in deep financial trouble. But there may be light at the end of the tunnel. Saturday, Air Canada's regional subsidiary reached a tentative agreement with its unions that the airline hopes will save $43 million (C$59 million). The agreement will also mean thousands of workers will lose their jobs.

"This includes no guarantees related to fleet size or job security," said Joseph Randell, head of the regional unit Air Canada Jazz, in a statement to reporters. Air Canada Jazz employees almost 4,000 workers.

Air Canada is the 11th biggest carrier in the world. Overall, it's looking to cut $550 million (C$770 million), hoping to stem the tidal wave of red ink that's costing the carrier approximately almost $3 million a day. That means more than 25% of the workforce will have to go.

The Canadian airline and its subsidiaries hope to modernize their fleets and cut operational expenses as well, by purchasing 25-30 RJs, which would each seat up to 70 passengers. Right now, Air Canada Jazz flies more than 75 turboprop aircraft and approximately 20 regional jets, all able to carry up to 50 passengers per flight.

Air Canada Jazz pilots - about 1500 of them - are scheduled to vote on the concessions next week.

FMI: www.aircanada.ca

Advertisement

More News

Innovative OSH14 Sponsor, iFlightPlanner, Provides Expert Guidance

What is iFlightPlanner? iFlightPlanner is general aviation’s most comprehensive suite of easy-to-use flight planning tools for private and corporate pilots. Featuring iFlight>[...]

Futuristic OSH2014 Sponsor: 'Beyond The Blue' - The Inside Story Of The XPRIZE

Meet Jim Campbell--Wednesday/Thursday/Friday, At Sportys Pilot Shop--Display Area #260A, At 1300 Each Day And Get Your Signed Copy of Beyond The Blue!!! To Aviation Journalist and >[...]

Airborne 07.29.14, OSH14 Day 2: Mooney Delivers, AEA ADS-B Bucks, Perlan Project

Also: Hartzell Accessorizes, Lycoming's 85th, New Continental Diesel, Pelton Intvw-Part 2, DeltaHawk Diesel Update Mooney CEO Dr. Jerry Chen handed the keys for the first new Accla>[...]

IMC CLubs Leads The Way To OSH14 Special Event Coverage

IMC Clubs: Building Instrument Proficiency Through Community When it comes to flying, there is no substitute for proficiency and training. And maybe nowhere is that more important >[...]

Electrifying OSH2014 Sponsor: Concorde Batteries

Concorde Charges Up Our Oshkosh 2014 Coverage! Concorde Battery Corporation has been in the battery manufacturing business for over 30 years and is the world leader in Valve Regula>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC