Manufacturing Industry
Air Canada granted approval for purchase of Airbus aircraft
Airline Industry Information, March 23, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Air Canada has been granted approval by the Ontario Superior Court for the purchase of two widebody Airbus A340-500 aircraft, and their financing.
The purchase of the two aircraft has been agreed to by Trinity Time Investments, the airline's main equity investor. The settlement is also said to include the cancellation of two Airbus A321 deliveries and the deferred delivery to 2010 of three A340-600s.
Air Canada is scheduled to emerge from bankruptcy protection by 30 April 2004, reported Reuters.
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