Air Canada stock closes up 4% after pilots ratify four-year deal

Air Canada (AC.TO) shares closed the trading day up 4 per cent on Thursday after the company’s pilots voted to ratify a new four-year agreement with the airline.

The Air Line Pilots Association (ALPA), the union representing more than 5,200 Air Canada pilots, says 67 per cent of members voted in favour of the deal. The union says about 99 per cent of eligible pilots cast ballots in the ratification process.

The agreement, reached at the last minute in late-September after more than a year of negotiations, is retroactive to September 2023 and ensures a strike is off the table. There were some concerns about whether the deal would be ratified, as it faced scrutiny from some of its pilots, particularly more recent recruits. The head…