WestJet disappointed by AC pension fund ruling

WestJet has responded to the federal government’s decision to extend Air Canada’s pension funding arrangement. “While we recognize this has been a difficult decision for the government, we are disappointed with this announcement,”said WestJet president Gregg Saretsky. “We are supportive of a strong and competitive aviation industry in Canada. To that end, we trust this marks the end of special treatment for Air Canada as such treatment at the expense of other industry players has become too common. We look forward to working with the government to create a level playing field and an environment that supports a healthy industry that benefits the travelling public.”Earlier, Air Canada and the Government of Canada agreed to an extension of Air Canada’s pension funding arrangements to Jan. 30, 2021. After lengthy negotiations, the initial Air Canada proposal was strengthened with additional required solvency payments, a shortened term and specific new conditions that will ensure that all employees and executives of Air Canada are part of the solution.