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Article: Air Canada Bankruptcy Deadline Looms
- Article from:
- AP Online
- Article date:
- June 1, 2003
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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Dateline: TORONTO
Air Canada and its main pilots union extended discussions past a court-
imposed deadline of midnight in an effort to save Canada's national
airline from bankruptcy.
Just minutes after the deadline passed, a spokesman for the airline'
s low-cost, regional subsidiary, Jazz, announced that it had reached
a deal with its pilots.
Air Canada has already reached agreements with eight of its nine unions
in an effort to cut $576 million from its $2.1 billion labor bill.
Ontario Superior Court Justice James Farley has ordered a rare Sunday
morning hearing at which he will consider whether Air Canada should
be pushed into bankruptcy. Negotiators for the main ...