Air Canada Achieves Realignment Target

12th Jul 2004

  Air Canada announced that the
ratification of the mainline carrier’s labour agreements was successfully
completed today with the confirmation from the CAW Airline Division that the
airline’s customer sales and service agents and crew schedulers at Air Canada
have ratified their agreement. The mainline carrier has now achieved its share
of the labour cost realignment target required to satisfy the conditions in
the Deutsche Bank Standby Agreement and the GE Capital Aviation Services
(GECAS) Global Restructuring Agreement.Over the past six weeks, agreements were ratified with the Air Canada
Pilots Association (ACPA) representing mainline pilots, CALDA representing
flight dispatchers, CUPE representing flight attendants, and the International
Association of Machinists and Aeropace Workers (IAMAW) representing technical
operations, airport ground service, finance, cargo and clerical personnel.
Agreements were also ratified with three unions representing Air Canada Jazz
employees - the Airline Pilots Association (ALPA), CALDA and the CAW Airline
  Teamsters Canada, representing Air Canada Jazz flight attendants were
unable to ratify their agreement in the timeline given. Following attendance
in Court today, Teamsters Canada have extended the time for completion of the
ratification vote until July 15, 2004 in order to provide adequate time for
all members to vote. A report will be submitted to the Court on July 16, 2004.
  “The ratification of our labour agreements sends a strong message to the
other stakeholders that the people of Air Canada are willing to do what it
takes to ensure a strong, viable airline going forward,” said Robert Milton,
President and Chief Executive Officer. “I salute the people of Air Canada and
Air Canada Jazz and thank them for taking this necessary step. I remain
confident that Teamsters Canada and the Air Canada Jazz flight attendants they
represent will work towards a successful outcome to ensure the future of Air
Canada Jazz and its employees.”
  The Court today set August 17, 2004 as the date for the Creditors Meeting
to vote on the Restructuring Plan. Air Canada is proceeding with all planned
activity to meet the September 30, 2004 target for emergence from CCAA.


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