Air Transport World

Inter-Canadien to restructure.(Brief Article)

Montreal-based Inter-Canadien Inc., an independently owned partner of financially ailing Canadian Airlines that serves eastern Canada, is attempting to restructure its operations before it restarts commercial service. It shut down in late November.

Advance bookings and traffic have declined significantly because of the Regional's association with Canadian and Onex Corp.'s unsuccessful bid to acquire Air Canada and merge it with Canadian, said Inter-Canadien President and CEO Robert Myhill. Traffic is said to be off by 20%. Canadian also owes Inter-Canadien around $27 million in back payments. Another problem, said Myhill, is that Inter-Canadien is not part of Air Canada's plan to purchase Canadian, making it very difficult to secure financial help. …

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