New Jazz income fund to add planes, routes
The prospectus said Jazz has a pay scale in place that's competitive with U.S. regional carriers, noting that new Jazz employees "hired after May, 2004, excluding pilots, are being hired on this lower scale."
In the case of Jazz pilots, they have agreed to "significant productivity gains," including a system where there is "one pay scale based on seniority and status, regardless of the type of aircraft flown," the document added.
Jazz's work force on Oct. 31 was 3,732 employees, down from 4,086 in April, 2003, when Air Canada sought court protection from creditors. Air Canada emerged from bankruptcy protection in September, 2004.