Air Canada is seeking C$650 million ($424 million) in labour concessions, including cuts in salaries and benefits, after posting a net loss for last year of C$428 million, down from the C$887 million loss a year earlier. The Canadian carrier has also announced plans to sell large stakes in maintenance arm Air Canada Technical Services and its airport ground handling services unit. The sale of regional arm Air Canada Jazz is also being considered, and Air Canada Cargo will become a standalone subsidiary, although no sale is planned "at this time", the carrier says. Air Canada has agreed to sell 35% of its frequent flier programme Aeroplan to Canadian investment firm Onex, in return for an investment of at least C$245 million.
Source: Flight International
