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Air Transat Faces Flight Suspensions Amid Pilot Strike Notice

  Air Transat has announced it will gradually suspend flights starting Monday following a 72-hour strike notice issued by its pilots’ union. The Air Line Pilots Association (ALPA), representing roughly 700 pilots, delivered the notice after nearly a year of unsuccessful negotiations with the airline’s parent company, Transat A.T. Inc. Background The union filed the strike notice on Sunday, giving pilots the legal right to walk off the job as early as Wednesday. Last week, pilots voted 99% in favor of strike action , underscoring their frustration over stalled contract talks. ALPA leaders emphasized that pilots do not want to strike but feel compelled to act after management failed to meet demands for a modernized agreement. Airline Response Air Transat confirmed it will begin suspending flights gradually between December 8 and 9 to prepare for a possible full shutdown. The company stated it is working “around the clock” to reach a deal and minimize disruption for trave...

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Rising Mortgage Costs in Canada: Can Savings Cushion the Blow?



As Canadian homeowners brace for higher mortgage payments, the question of whether personal savings can soften the impact has become increasingly urgent.

According to recent forecasts, many borrowers will face significantly higher costs when renewing their mortgages in the next two years, as most will be renewing for the first time since interest rates began climbing in 2022. Even though the Bank of Canada has recently shifted toward modest rate cuts, average fixed and variable mortgage rates remain elevated compared to the ultra-low levels of the past decade.

For households, this means tighter budgets. A family renewing a five-year fixed mortgage could see monthly payments rise by hundreds of dollars. In this environment, savings play a critical role. Emergency funds and short-term cash reserves can provide a buffer, helping families absorb the shock of higher payments without immediately cutting back on essentials.

However, experts caution that savings alone may not be enough. With nearly 60% of mortgages set to renew soon, many Canadians will need to combine savings strategies with lifestyle adjustments—such as reducing discretionary spending, consolidating debt, or extending amortization periods—to stay financially stable.

The bottom line: while savings can buy time and flexibility, long-term resilience will depend on careful planning and adapting to a new era of higher borrowing costs.


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