The 221 members of IAM Local 2603 in Winnipeg, MN have a new five-year agreement. The group provides accounting, banking, auditing, cargo, accounts payable and receivable and payroll functions for Air Canada and Jazz.
The collective agreement provides for a two percent lump sum wage increase in the first year, wage increases of two per cent in the second and third year and three per cent in the fourth and fifth year. Other agreement highlights include: a pension Memorandum of Agreement which includes a multi-employer pension and maintains the ability to retire at age 55 and with 25 years of service without any penalties; an additional week of general vacation for members with ten or more years of service which can be utilized in daily increments if the member so desires.
The IAM is the largest union at Air Canada with more than 8,800 members.