[QUOTE=Shareholder]
They've got jobs and are still the best paid, most secure airline employees in the country...and have the best pension plan in the NAmerican industry since the US carriers are one by one abbrogating their pension responsibilities upon going through Chapter 11. Benefits packages are also among the best on the continent. AC's major competitor doesn't offer a real pension plan, nor as extensive a benefits package.
This is all true excepting that Canadian law doesn't allow escaping pension liabilities as is case in U.S. style Chapter 11 pension options.
ACE's management group restructured the company at a minimal level of job losses and have moved it into a profitable footing. The "screw ups" you refer to are spin-offs from: 9.11, high gas prices, SARS and cut throat domestic competition.
True, but please don't forget about the sacrifices that workers took in all of the restructiong activities. Kudos to all for making it happen!
This was a neutral arbitration settlement based on the facts of what the company could bear and what the workers needed to meet cost of living increases.
Everyone gets to pitch their case in arbitration and at the end of the day the arbitrator looks at those submissions and makes a logical, rational and judicially consistent decison respecting the award. In this case, he made an excellent decision!
If you're prepared to buy only LATITUDE PLUS tickets, then I suppose AC could afford a higher settlement, but the reality is the majority of AC customers want to pay TANGO fares, if not even less.
If he or anyone only buys LATITUDE PLUS tickets, either their really out of it or they have more money then they should have.