Thank you. I stand corrected. Now think of the implications of this fact. No accounting for reduced training costs. In our Thwaites hearing, Air Canada witnesses estimated the average cost of a pilot training course at $40,000. How many courses were avoided as a result over the five years from December 2012 to December 2017 as many pilots remained in their senior positions instead of opting for retirement? Hundreds per year, every year! Every B-777 Captain that retires generates up to ten additional courses, given the number of positions down-seniority affected.Observer wrote: ↑Sun Jun 10, 2018 5:52 am The $127 million gain had nothing to do with training costs. Not to say that Air Canada won't see some savings in the training department, but the gain you refer to was booked because of pension plan accounting. It was an upfront recognition by the accountants and actuaries that the DB plan would be saving money, a little bit every year over the next 60 years (until all the DB plan members are dead). The present value (December, 2012) of these savings, based on revised retirement projections attributed to this change in legislation, was estimated to be $127M. A total guess by the number crunchers, but there you have it.
But to your point, whether it was attributed to training or pension savings, ACPA got absolutely nothing for this.
So add to the $127 million in pension benefit savings for which the union received no credit or apportionment, the millions and millions of dollars that Air Canada realized from reduced pilot training!