Manufacturing Industry
Court approves Air Canada's restructuring plan
Airline Industry Information, August 24, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Air Canada's restructuring plan was approved by the Ontario Superior Court on Monday (23 August), and the airline could now emerge from bankruptcy by the end of September 2004.
The plan, which was approved by Air Canada's creditors last week, sets out the creditors' repayment terms. It also provides for the airline's technical services, cargo and ground handling operations to be established as stand-alone businesses.
Air Canada has been in bankruptcy protection since 1 April 2003.
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