Five-week Quebec Safran strike adds to aircraft supply-chain woes [Yahoo! Finance Canada]
SAFRAN SA UNSPON/ ADR (SAFRY)
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Source: Yahoo! Finance Canada
Boeing and Airbus jets shows no signs of resolution as planemakers say supply-chain snags are hampering production. Workers picketed on Tuesday outside the factory in Mirabel, Quebec, where Safran has been running operations using personnel who are not striking, a company spokesperson said. The aerospace industry has been beset by supply issues for months. European aerospace giant Airbus on Monday lowered its forecast for deliveries this year to around 770 jets from 800 and delayed a multi-year hike in narrowbody production, blaming shortages of engines and other parts, including landing gear. ADVERTISEMENT Since June 12, Paris-based Safran and the union have been in conciliation, a process by which labor disputes are resolved in Canada. The two sides are far from a resolution, with Safran saying it has made its final offer. Safran has offered a 14.5% raise over three years, while workers represented by the Confederation des syndicats nationaux union want an estimated 22% sa
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