National airline Air Canada is now cancelling hundreds of flights as the company prepares for the possibility of a fully blown-out strike led mainly by flight attendants, who are seeking wage increases and compensation for unpaid working hours.
Air Canada could lose up to $60 million CAD
In an interview with news outlet City News, John Gradek—an aviation analyst and former senior executive for Air Canada—has said the company faces losses of $50 to $60 million CAD if the strikes happen.
“A strike will cost them fifty to sixty million dollars a day in lost revenue….this is not trivial, this is a significant amount of revenue loss,” said Gradek.
The Canadian Union of Public Employees (CUPE) represents 10,000 flight attendants. 99.7% of the Union’s members voted to strike if a suitable deal was not reached, as per a Reuters report. CUPE has refused arbitration, an action requested by the air carrier.
The Canadian government has urged both sides to settle the matter. The national airline has called on the government to use section 107 of the Canada Labour Code, which allows intervention to resolve any disruptions.
Source: Google Finance