Air Canada reaches deal with pilots, averts shutdown

TORONTO: Air Canada, which filed for protection from creditors in early April, has reached a new six-year cost-cutting deal with its pilots, thereby averting a possible shutdown. 

Canada's biggest airline and a union representing 3,150 pilots reached the agreement in a hotel here just a little more than two hours after a court-imposed Saturday midnight deadline. Details of the agreement, however, have yet to be released pending ratification by the pilots.