Industry Briefs

Airline Industry Information, August 24, 2004

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

Canadian Imperial Bank of Commerce (CIBC), a Canadian bank, is to sell a large proportion of its Air Canada debt to an unnamed third party. An Ontario court has also granted CIBC the right to acquire voting shares in the restructured airline.

Garuda Indonesia Airlines is to introduce a new surcharge on tickets because of the continuing rise in fuel prices. According to the Jakarta Post the airline will raise prices by 100% on flights to Japan and Australia from 15 September.

United Airlines is reducing the number of Mileage Plus miles needed to redeem award travel for US and Canadian short-distance flights operated by United, United Express and Ted. United Economy Saver award travel will be available for 15,000 redeemable miles instead of 25,000 miles, and United First or United Business Saver award travel will be available for 30,000 miles instead of 40,000. Flights must be 750 air miles or less each way, between 1 September and 31 December 2004, and tickets must be booked online at http://www.united.com.

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