Air Canada responds to Court approval of Canadian Airlines debt restructuring - delighted with outcome.

0 Comments | M2 Presswire, June, 2000

M2 PRESSWIRE-28 June 2000-AIR CANADA: Air Canada responds to Court approval of Canadian Airlines debt restructuring - delighted with outcome (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:27062000 MONTREAL -- Air Canada was informed today that the Alberta Court of Queen's Bench has approved Canadian Airlines Corporation's Plan of Compromise and Arrangement under the Companies' Creditors Arrangement Act (CCAA).

Madame Justice Marina Paperny delivered her decision in court earlier in the day. The Court ruled that the Plan was fair, reasonable and equitable. It furthermore found that the Plan represents a solid chance for the continued existence of Canadian, maintains over 16,000 jobs, protects consumers and preserves the integrity of our national...