OTTAWA, March 13 Retired employees of Air Canada
support the government's decision to extend a cap on
special payments to the airline's struggling pension fund, a
spokesman for the retirees said on Wednesday.
Finance Minister Jim Flaherty announced the extension on the
cap to January 2021 and a requirement that payments toward the
deficit average C$200 million ($194 million) a year for seven
years, with a minimum of C$150 million each year.
"We do plan on supporting it," said Bruce Aubin, who heads
the pension committee for Air Canada's retirees.
"I think it's reasonably fair. I think both Air Canada and
the government did a good job in coming to a supportable
agreement, and it should provide a period of stability and an
opportunity for the current solvency deficiencies that exist in
the plan to recover as hopefully the economy improves. And the
problem at that stage may well go away."