Air Canada pilots react to the windup of ACE
Dec. 11, 2008, Toronto - The Air Canada Pilots Association is disappointed but not surprised with the announcement that ACE, the holding company of Air Canada, proposes to windup operations.
December 11, 2008 By Carey Fredericks
Dec. 11, 2008, Toronto – The Air Canada Pilots Association is disappointed but not surprised with the announcement that ACE, the holding company of Air Canada, proposes to windup operations by distributing the remaining proceeds from the 2004 restructuring of our national airline to a small group of shareholders and noteholders, rather than use those funds to invest in the future of Air Canada.
In 2004, Air Canada employees made concessions of over $2 Billion. At the same time ACE assured employees that the sale of Aeroplan, Jazz and Air Canada Technical Services was undertaken for the purpose of re-investing in Air Canada.
Instead ACE has sold the most profitable arms of Air Canada and distributed over $2 Billion to a group of largely foreign shareholders. This windup is merely the final chapter in a sad tale of broken promises.
Air Canada Pilots are proud of Air Canada. We strongly believe that it is a vital part of the economic and social fabric of Canada. We remain fully committed to our goal of serving the travelling public of Canada with safety and integrity, as we have throughout our 71-year history.
ACPA is the largest professional pilot group in Canada, representing the 3,300 pilots who operate Air Canada's mainline fleet.
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