Manufacturing Industry
Judge voices concern over Air Canada restructuring
Airline Industry Information, March 23, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
A judge overseeing the restructuring of Air Canada has reportedly urged unions and a key investor to end a pensions dispute.
Ontario Superior Court Justice James Farley has voiced his concern at the slow progress in the airline's emergence from bankruptcy protection. The airline went into bankruptcy protection in April 2003 due to deep losses and some CAD13bn of debt and aircraft lease commitments.
The carrier's restructuring date has already been delayed by four months to the end of April, and a disagreement between unions and Trinity Time Investments risks further delays, Reuters reported.
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