Air Canada Chapter 11

[atpcliff]

Hi!

Today (4.1.03) Air Canada filed Chapter 11. Earlier, it was reported that they may spin off their "Jazz" division-low cost airlined within an airline.

This is not an April Fool's joke!

Who's next? When will it end???

Cliff
GRB

 

[A Squared]

Presumably, Air Canada, being a Canadian Company would not be eligble for protection under Chapter 11 of the US bankruptcy code. Do you mean that they filed for similar protection from thier creditors under Canadian law, or am I missing something here?

 

[SAMRA]

It's called CCAA Canadian Creditor Agreement Act (I think). It's the same as Chapter 11 down there.

 

[uwochris]

Jazz is actually their feeder airline. Zip is their LCC. (And I think Tango is also an LCC servicing mainly the East).

Zip, Jazz, Tango... I love these names! Especially Zip's paint schemes... check them out: http://www.4321zip.com/en/our_fleet/our_fleet.html