Air Canada has reached a tentative four-year agreement with the Air Line Pilots Association, avoiding a potential strike or lockout. The deal addresses pilot demands for wage increases to close the pay gap with U.S. carriers. The new agreement will remain confidential until ratified by over 5,200 pilots. The airline had been preparing to cancel flights before reaching the agreement. Air Canada's offer of a wage increase and improved pension and health benefits was rejected by the pilots' union, which deemed it insufficient for members still operating under outdated 2014 terms.
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00:00It's Benzinga, and here's what's on the block.
00:03Air Canada has reached a tentative four-year agreement with the Airline Pilots Association
00:07avoiding a potential strike or lockout.
00:10The deal addresses pilot demands for wage increases to close the pay gap with U.S. carriers.
00:15The new agreement will remain confidential until ratified by over 5,200 pilots.
00:20The airline had been preparing to cancel flights before reaching the agreement.
00:24Air Canada's offer of a wage increase and improved pension and health benefits was rejected
00:28by the pilots' union, which deemed it insufficient for members still operating under outdated
00:332014 terms.
00:34For all things money, visit Benzinga.com.