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.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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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.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Comment about this article or add new information about this topic:
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