Air Transport World

Air Canada.(North America report)(Brief Article)

Air Canada's expectations of emerging from bankruptcy by, the end of the summer received a boost after Deutsche Bank agreed to increase its backstop guarantee for the airline's rights offering to creditors from C$5450 million ($333.3 million) to C$850 million. As a result, AC will be seeking a fresh equity investment of just C$250 million instead of the C$650 million provided for in the agreement with Trinity Time Investments that fell apart after the airline's unions refused to discuss changes to their pension plan. …

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