BRIAN DUNN / MONTREAL
Air navigation service and other creditors attempt to seize bankrupt carrier's aircraft
A number of groups, including Canada 3000 staff, former president Robert Deluce and ex-Royal Airlines president Michel Leblanc, are emerging to fill the gap left by the collapse of Canada's second-largest carrier.
The Toronto-based airline went bankrupt on 11 November, just three days after filing for protection from creditors.
The airline's receiver says a group of former Canada 3000 employees is planning to start a smaller airline using some of the 38 leased aircraft operated by the carrier, which included Airbus A310s, A319s, A320s and A330s as well as Boeing 737s and 757s. Industry sources suggest that due to the fall in air travel since 11 September, lessors are likely to offer flexible terms. Toronto-based charter Skyservice Airlines has already expressed interest in taking over some of the leases.
Former Royal Airlines chairman Michel Leblanc, who sold that carrier to Canada 3000 last year, is interested in starting a discount operator in eastern Canada. The airline, which would be similar to Calgary-based WestJet, would operate eight or nine leased aircraft. Prior to Canada 3000's bankruptcy, Leblanc had offered to buy back most of it for C$49 million ($30 million), including the assumption of C$24 million in debt.
In addition, a third group of unidentified investors has approached Robert Deluce, a former president of Canada 3000, to launch a new airline. Two years ago, Deluce attempted buy Air Canada's regional airlines.
Canada 3000 creditors, meanwhile, are keen to secure assets, with lessor GATX aiming to recover its aircraft quickly and Canada's airports and the country's air navigation service provider Nav Canada attempting to seize aircraft for unpaid bills totalling over C$20 million.
In addition, Canada 3000 owes its 4,800 employees C$5.8 million in unpaid wages and C$500,000 in benefits as well as holiday pay.
Source: Flight International
