Air Canada has achieved one of the main goals in its bid for Canadian Airlines International by buying Canadian's landing slots at Tokyo's Narita Airport, enabling it to launch direct Toronto-Tokyo services.
The deal will also provide cash-strapped Canadian with bridging finance until its C$92 million ($62.5 million) takeover by Air Canada is complete.
Canadian cut direct Toronto-Tokyo services in 1998 to save money, but continues to serve the route with a stop in Vancouver.
On completion of the acquisition early in 2000, Air Canada plans to launch a series of new routes to destinations in Asia and Europe
• InterCanadian Airlines, which stopped flying on 27 November because of a lack of funds, has received an offer from a union-backed investment fund. Financial terms of the proposal were not disclosed. Under the proposal from the Quebec Solidarity Fund, the airline, which fed Canadian from the five eastern provinces, would serve Quebec only.
The workforce would also be reduced from 900 to a maximum of 400, and the 23-strong aircraft fleet cut to 10. Most of the aircraft have already been seized because of unpaid fees.
Source: Flight International
