Machinists Reject Air Canada Tentative Deal
February 23, 2012
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After nine months of face-to-face bargaining, IAM members at Air Canada voted to reject a proposed tentative agreement. IAM members also voted by 78 percent to support strike action.
Angry over a history of mismanagement, the 8,600 IAM members at Air Canada are particularly sour over sacrifices they made while Air Canada executives continued to reap millions in bonuses.
Former CEO Robert Milton inherited a profitable Air Canada and managed the carrier into bankruptcy, before walking away with between $82,000,000 and $100,000,000. Montie Brewer was next at the trough and left with around $17,500,000, leaving behind a company that was again in trouble.
In 2009, all of the employees of Air Canada were once again asked to save the airline. They agreed to allow the company to delay their pension payments until 2014.
Now there is current Air Canada CEO Calin Rovinescu, who will soon receive another $5,000,000 as a retention bonus.
The IAM will be meeting next week to prepare for a return to bargaining with Air Canada.
