A major bailout of Trinidad's struggling national airline could be in jeopardy as union leaders rejected an initial restructuring agreement, officials said Friday.
BWIA could receive US$250 million (euro205 million) in equity from the government if unions and the carrier agree on a restructuring plan, airline spokeswoman Dionne Ligoure said in a statement.
But a union leader said an airline proposal to eliminate the medical plan, reduce sick leave and cut pensions was "unacceptable."
The airline's profits plunged 80 percent in the third quarter of 2005. West Indies Stock Exchange CEO Peter Clarke blamed the decline on rising fuel prices.
Some 1,700 workers were likely to be affected by the restructuring plan including supervisors and mangers, Ligoure said.
BWIA Chairman Arthur Lok Jack has met with representatives from the Aviation, Communication and Allied Workers Union; the Trinidad and Tobago Airline Pilots Association; the Airline Superintendents Association; and the Communication, Transport and General Workers Trade Union.
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BWIA could receive US$250 million (euro205 million) in equity from the government if unions and the carrier agree on a restructuring plan, airline spokeswoman Dionne Ligoure said in a statement.
But a union leader said an airline proposal to eliminate the medical plan, reduce sick leave and cut pensions was "unacceptable."
The airline's profits plunged 80 percent in the third quarter of 2005. West Indies Stock Exchange CEO Peter Clarke blamed the decline on rising fuel prices.
Some 1,700 workers were likely to be affected by the restructuring plan including supervisors and mangers, Ligoure said.
BWIA Chairman Arthur Lok Jack has met with representatives from the Aviation, Communication and Allied Workers Union; the Trinidad and Tobago Airline Pilots Association; the Airline Superintendents Association; and the Communication, Transport and General Workers Trade Union.
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