Court OKs Air Canada Restructuring Plan
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A Canadian court approved Air Canada&#39;s (AC.TO: Quote, Profile, Research) plan of arrangement with creditors on Monday, clearing the way for the world&#39;s 11th largest airline to emerge from bankruptcy protection at the end of next month
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TORONTO -- An Ontario court approved Air Canada&#39;s restructuring plan yesterday, while one of Canada&#39;s major banks sold off its debt in the airline.
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CALGARY, Alberta  - ACE Aviation Holdings  has been approached by private equity players and pension funds about searching for ways for majority-owned Air Canada  to join the U.S. airline consolidation wave, ACE's chief executive said on Friday.
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OTTAWA (CP) - The federal parties have struck a deal for a new process to overhaul in the way Supreme Court justices are selected, NDP Leader Jack Layton said Monday.
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Creditors have approved plans by Air Canada to restructure its business, paving the way for the airline to come out of creditor protection.
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The ruling against NorthwestÂs flight attendants could strengthen the hand of struggling airlines seeking to reduce labor costs.
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Bombardier Inc., the world&#39;s third- biggest maker of commercial aircraft, won an $821.2 million order for 30 aircraft from Air Canada, a smaller agreement than what was initially planned.
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A bankruptcy judge gave US Airways Group Inc. permission yesterday to tap a government loan to fund daily operations -- a move expected to allow
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Air Canada received court clearance yesterday to emerge from bankruptcy protection next month and embark on a bold new mission to fend off rivals, corral costs and jettison its stormy past.
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Shares of ACE Aviation Holdings Inc., the new parent company of Air Canada, rose on their first day of trading after the country&#39;s largest carrier emerged from bankruptcy protection with less debt and lower operating costs.
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After more than 16 months of restructuring, Air Canada&#39;s creditors overwhelming endorsed the airline&#39;s new business plan during a meeting at a Montreal hotel Tuesday.
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A U.S. bankruptcy court judge on Friday approved a 30-day exclusivity extension for United Airlines, giving the carrier another month to file its own reorganization plan without competing plans from creditors.
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United Airlines on Friday said it has agreed with its creditors' committee to a 30-day extension, subject to court approval, of the period during which it can exclusively file a bankruptcy reorganization plan.
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The government moved in federal court yesterday to take over the pension fund for United Airlines&#39; pilots, an unusual step that it said was needed to prevent the airline and the pilots
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Air Canada has been cleared for take-off. An Ontario court judge approved the battered airline&#39;s restructuring plan, and the company could emerge from bankruptcy protection as early as Sept.
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Bankrupt carrier Hawaiian Airlines said it reached an agreement with a court-appointed trustee on a plan of reorganization. The bankruptcy plan, which requires court approval, offers creditors full repayment on their claims, the company said.
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TORONTO (CP) - Air Canada&#39;s stock soared to a post-restructuring high Monday as senior executives delivered an upbeat message to analysts about the airline&#39;s financial results and operating plans.