Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Another Kick In The Groin For Air Canada  
User currently offlineArtsyman From United States of America, joined Feb 2001, 4745 posts, RR: 34
Posted (10 years 3 months 2 weeks 6 days 3 hours ago) and read 3973 times:

When it rains, it pours, and sadly for Air Canada, the rain is starting to fall pretty hard. Today Milton's right hand man, resigned, quit, left... whatever, he's gone. Here are some excerps:

Milton's right-hand man quits Air Canada

By John Partridge and John Saunders

The apparent collapse of Victor Li's plan to pump $650-million into Air Canada has claimed the job of chief executive officer Robert Milton's right-hand man, raising more questions about Mr. Milton's future and the ability of Canada's largest airline to emerge from bankruptcy protection.

Confirming widespread speculation in union ranks this week, the insolvent airline said yesterday that Calin Rovinescu, its chief restructuring officer and a key architect of the plan to bring Mr. Li, the eldest son of Hong Kong billionaire Li Ka-shing, on board as major shareholder, has resigned from his post.

Mr. Rovinescu's departure appears to make it even less likely that the deal can be revived, though he insisted in an interview yesterday that it is salvageable and that other investors are in sight.

"In my mind, I had managed to bring to the table one of the most sophisticated international investors, who has lots and lots of airlines and lots of other opportunities to invest in [but] has selected us," he said of Mr. Li. "And to the extent that as a result of the inability of the unions and Trinity to come to an agreement, the deal doesn't close, then I think it's time to hand this last 10 yards over to another running back."

http://www.globeandmail.com/servlet/story/RTGAM.20040408.wxaircanada0408/BNStory/Business/

3 replies: All unread, jump to last
 
User currently offlineN754pr From , joined Dec 1969, posts, RR:
Reply 1, posted (10 years 3 months 2 weeks 6 days 2 hours ago) and read 3912 times:

If it was private it would have gone bust already, how can they keep it going??

User currently offlineCPDC10-30 From United Kingdom, joined Feb 2000, 4776 posts, RR: 24
Reply 2, posted (10 years 3 months 2 weeks 5 days 22 hours ago) and read 3796 times:

If it was private it would have gone bust already, how can they keep it going??

Air Canada has been a private corporation since 1988. IMHO I don't think this is bad news, things were getting nowhere with Li invloved.


User currently offlineOlympus69 From Canada, joined Jun 2002, 1737 posts, RR: 7
Reply 3, posted (10 years 3 months 2 weeks 5 days 21 hours ago) and read 3699 times:

This is yesterday's news and there is another ongoing thread on the subject.

CPDC10-30,

Air Canada has been a private corporation since 1988

Private? I don't think so.



Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
The End For Air Canada? posted Fri May 30 2003 15:13:19 by Britair
Another Scare In The Air For American posted Tue Dec 12 2000 15:53:40 by RWally
757 Better For Air Canada Than The A320? posted Sat Nov 1 2003 23:28:33 by Matt_milligan
More Turbulence For Air Canada - The T.O. Star posted Sat Feb 8 2003 22:06:47 by Canadi>nBoy
Working For Air Canada, "Interview" posted Sat Oct 28 2006 03:40:05 by LAXAgent
WN In The Market For Used 737-700'sl posted Sat Jul 22 2006 00:01:04 by Dbba
Iberworld In The Race For 5 A350s posted Sat May 6 2006 14:37:27 by FCKC
BA Pilot 120 Days In The Nick For Drunkflying posted Tue Mar 28 2006 14:40:42 by 747400F
First E190 For Air Canada Delivered posted Tue Dec 13 2005 22:40:29 by ChrisA330
BA: No Interest In The A380; For Now! posted Tue Nov 15 2005 02:17:24 by Scotron11