There's no word yet whether Air Canada and the union representing some 10,000 of its flight attendants have averted a possible strike or lockout that could begin as soon as Saturday.

The Air Canada component of the Canadian Union of Public Employees will be in position to strike as of 12:01 a.m. ET on Saturday.

That means the required 72 hours' notice for any job action could be given at any point.

However, midnight has come and gone with no indication from either side that notice of strike or a lockout has been served or a tentative deal reached that would avert a work stoppage.

Air Canada says it has reached an "impasse" in negotiations with the union representing its flight attendants, which on Tuesday said it declined a proposal from the airline to enter a binding arbitration proce

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