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Avianca and the pilots’ union reach an agreement.

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Avianca Holdings and 450 pilots from the Colombian Civil Aviators Association (ACDAC) reached an agreement on Wednesday that guarantees labor peace for the next four years at the airline, which is moving forward with a restructuring plan under Chapter 11 of the U.S. Bankruptcy Law.

See also: Avianca have until 2021 to pay the loans that will save it from bankruptcy.

Colombia’s flagship airline has more than 1,200 pilots and is moving forward in negotiations with other unions to reach structural agreements that will guarantee labor peace and allow the company to be more competitive and have long-term sustainability, Reuters reported.

See also: Colombia: Aerocivil investigates violation of biosecurity protocols on Avianca and Wingo flights.

“The confidence, the willingness to dialogue and negotiation of both parties, as well as the common goal of supporting the airline to emerge from this crisis as a stronger company, were fundamental to reach the agreement we are announcing with ACDAC,” said in a statement the executive president of Avianca Holdings, Anko van der Werff.

The executive hoped to reach agreements with other airline workers’ unions to advance the reorganization process and respond to the financial and operational commitments that will allow the company to emerge stronger from the current situation.

“The signing of this agreement is, without a doubt, an important achievement, given that in addition to bringing to a successful conclusion the negotiations around the proposal for the recovery of the company, presented by ACDAC, we also mark the beginning of a new era within Avianca and in labor relations,” declared Captain Jaime Hernández Sierra, president of ACDAC.

The agreement contemplates the postponement of some economic benefits between January 1, 2021 and December 31, 2024, a 15% reduction in salaries and bonuses, a guarantee of minimum income and annual salary increases of the highest value between inflation and 2%.

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