Air Canada has reached a tentative agreement with its largest aircraft lessor, GE Capital Aviation Services (GECAS), on lease rate reductions, payment deferrals, early returns and cancellations. The agreement also includes up to C$1.8 billion ($1.34 billion) in financing to help the carrier emerge from bankruptcy and to acquire regional aircraft. The Star Alliance carrier, which has been operating under Canadian creditor protection since April, says the deal covers 106 Air Canada and Air Canada Jazz aircraft, including those that are parked or undelivered. A judge recently extended Air Canada's creditor protection to 30 September.
Source: Flight International
