With Air Canada flight attendants putting a very public face on their labour woes at airports across the country today, the company and in fact the entire industry are being hit by an economic and image double punch.
Investment analysts predict if the strike were to materialize, “the fallout will be catastrophic.” They estimate it will lead to a $98 million daily loss to Canada’s economy.
For Air Canada, with the stock already plunging 14.5% over the last month, AInvest doesn’t mince words about the potential financial turmoil, saying “this isn't just a corporate drama—it's a seismic shift in how investors should evaluate the sector.”
Consumer confidence seems to be dropping just as fast. A survey reveals 70% of Canadians blame airlines for high prices and poor service. And the issues on the table are generating empathy. Flight attendants are demanding to be paid for their time doing safety checks, boarding assistance and gate delays - all of which are essential services 99% of FAs in Canada say they’ve been forced to provide for free. They also say entry-level wages have risen just 10% over 25 years, well below inflation.
Meanwhile, some major news outlets are suggesting Canadians worried about flight disruptions should book a refundable back-up ticket with other airlines, just in case. The advice would result in payload chaos, spreading the misery across multiple airlines.
