12:38 PM EDT, 10/10/2024 (MT Newswires) -- Air Canada ( ACDVF ) on Thursday said its voted to approve a new collective agreement with the company.

The four-year agreement covers more than 5,200 pilots at Air Canada ( ACDVF ) and Air Canada Rouge represented by the Air Line Pilots Association

"We are very pleased this new collective agreement has been approved by our pilot group. The agreement is mutually beneficial and it will keep our pilots the best compensated in Canada and provide the work-life balance improvements they were seeking. At the same time, the agreement gives our company flexibility and creates a framework for future growth of the airline and its network. We look forward to working with our pilots under this renewed partnership," said chief executive Michael Rousseau.

The airline said the agreement makes the pilots the best paid in Canada, but offered no details on the new contract.

The company's shares were last seen up $0.72 to $17.37 on the Toronto Stock Exchange.

Price: 17.38, Change: +0.73, Percent Change: +4.38