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Market movers: Stocks seeing action on Thursday - and why

Market movers: Stocks seeing action on Thursday - and why
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Canada's Cargojet tells pilots it may shift some work to U.S.

Canada s Cargojet tells pilots it may shift some work to U.S.
Reuters
1 hr ago
May 13 (Reuters) - Canada s Cargojet Inc has threatened to move work to the United States unless it wins exemption from rules aimed at preventing pilot fatigue because of their cost, according to a deal rejected by its pilots seen by Reuters.
Cargojet has said it wants to reduce costs and grow in the United States as Canada s largest cargo carrier benefits from an increase in air freight demand due to a decline in belly capacity” from passenger aircraft grounded during the pandemic.
The Ontario-based company, which reported 30% higher quarterly revenues this month, has hired more than 60 pilots in the past three to four months to meet stronger demand and comply with Canadian rules that went into effect in December. Those shorten the number of hours pilots can work at night and extend their rest periods, among other conditions. ....

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Cargojet tells pilots it may shift some work to U.S.

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