- More than 5,400 Air Canada (TSX:AC) pilots might walk off the job as soon as Sept. 17 after overwhelming support for a strike mandate
- Contract negotiations began in June 2023 and are in a stalemate on wages and scheduling
- Air Canada is Canada’s largest airline with a presence in more than 180 airports in Canada, the United States and internationally across six continents
- Air Canada stock has given back 30.43 per cent year-over-year and 65.01 per cent since 2019
More than 5,400 Air Canada (TSX:AC) pilots might walk off the job as soon as Sept. 17 after overwhelming support for a strike mandate.
With a 98 per cent approval rate, the mandate follows ongoing negotiations in Toronto between the airline and the Air Line Pilots Association (ALPA) that have dragged on since June 2023.
Negotiations were overseen by a federal conciliator until Aug. 26, and have since entered a 21-day cooling-off period, making Sept. 17 the first day for a potential strike.
The parties intend to continue negotiations over the cooling-off period having made significant progress, according to a report from The Globe and Mail, with wages and scheduling remaining points of contention.
If a strike does occur, Air Canada has put a goodwill policy in place allowing customers to change their travel plans at no additional cost if they booked them for between Sept. 15-23, 2024.
The strike would add insult to injury to the airline, which has struggled to bounce back from the pandemic because of energy costs and tepid demand. It returned to profitability in 2023 with net income of C$2.2 billion only after producing net losses in 2020 through 2022, and despite more than tripling revenue from C$5.8 billion in 2020 to C$21.8 billion in 2023. The airline has been net income positive in three out of the past four quarters, last generating C$410 million in Q2 2024.
About Air Canada
Air Canada is Canada’s largest airline with a presence in more than 180 airports in Canada, the United States and internationally across six continents.
Air Canada stock (TSX:AC) is down by 0.95 per cent, trading at C$15.66 per share as of 10:42 am ET. The stock has given back 30.43 per cent year-over-year and 65.01 per cent since 2019.
Join the discussion: Find out what everybody’s saying about this airline stock’s potential pilot strike on the Air Canada Bullboard, and check out Stockhouse’s stock forums and message boards.
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(Top photo of Air Canada pilots protesting at Montreal Trudeau International Airport: Air Canada ALPA)