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Air Transat maintenance workers OK wage freeze
TORONTO, July 4 |
TORONTO, July 4 (Reuters) - Money-losing Canadian travel operator Transat AT Inc said on Wednesday that maintenance employees have approved a labor contract that temporarily defers planned wage increases, the third union to back such a freeze.
Montreal-based Transat AT posted a big quarterly loss last month as intense competition drove down prices. It forecast a challenging summer, with currency fluctuations expected to more than offset falling fuel prices.
A new five-year agreement-in-principle was approved by maintenance and store employees represented by the International Association of Machinists and Aerospace Workers.
The contract, which exchanges wage hikes for compensation based on the company reaching certain financial targets, comes up for renewal in April 2016.
Last month, the union representing Air Transat's flight attendants agreed to freeze wages after a similar deal was struck with pilots in May.
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