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CAI lashes out at Air Canada

Article Abstract:

Calgary, Canada-based Canadian Airlines International Ltd (CAI) CEO Kevin Benson accused Air Canada of demanding for the inclusion of greedy and frivolous terms that could have spoiled his company's survivial during merger talks in early 1999. Some of Montreal, Canada-based Air Canada's demands included a payment of over C$1 billion in compensation for asssuming CAI's debt, and an offer to secure CAI's intrenational routes. Also a point of difference was that CAI supports Onex Corp's unsolicited C$1.8-billion bid to combine the two national airlines, while Air Canada has shunned the offer.

Author: McNish, Jacquie
Publisher: Bell Globemedia Interactive
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
United States, Asset sales & divestitures, Other Financial Vehicles, Investors NEC

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Air Canada considered alliance switch

Article Abstract:

Air Canada is reportedly breaking off from its global partners to shift to the Oneworld alliance. The announcement was made by AMR Corp chairman and CEO Donald Carty, whose own firm is financially supporting Onex Corp's plan to unite Canadian Airlines International Ltd and Air Canada. Air Canada has expressed opposition to the Onex $1.8 billion merger plan. Air Canada has reportedly discussed in private with Canadian Airlines International over a possible merger.

Author: McNish, Jacquie
Publisher: Bell Globemedia Interactive
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
Strategic alliances, Scheduled Passenger Air Transportation, Scheduled Air Passenger Svc, Airlines

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Subjects list: Canada, Air Canada, Canadian Airlines International Ltd.
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