Bmacleod From Canada, joined Aug 2001, 2437 posts, RR: 0 Posted (9 years 9 months 3 weeks 2 hours ago) and read 4066 times:
AC CEO Robert Milton indicated that he would cancel the 340-600s on order now that AC has chosen Boeing to replace its Airbus widebodies. I'm wondering is this has already been done or is there a waiting period before AC can cancel its remaining Airbus orders.
The engine is the heart of an airplane, but the pilot is its soul.
Hamlet69 From United States of America, joined Mar 2000, 2761 posts, RR: 58
Reply 6, posted (9 years 9 months 3 weeks 1 hour ago) and read 3807 times:
As NYC777 said, they'll officially be cancelled (by the airline) when the final contract is signed with Boeing. When Airbus actually takes them off their books, however, is another question entirely, considering their penchant for leaving cancelled orders listed.
This was publically stated by Air Canada during their CCAA proceedings. There wasn't a press release, but it was included in some of the various court documents that are publically available. I believe it was at the same time that AC negotiated to take delivery of their A340-500 after the agreement with ACPA.
As has been stated, the cancellation penalties were dropped as part of AC's CCAA restructuring. I'm not 100% certain that the documents would be there, but check www.sedar.com or alternately, the information should be available on the Court's website.
Accargo From Canada, joined Sep 2004, 610 posts, RR: 8
Reply 12, posted (9 years 9 months 2 weeks 6 days 22 hours ago) and read 3369 times:
Quoting CXYYZ (Reply 11): As has been stated, the cancellation penalties were dropped as part of AC's CCAA restructuring. I'm not 100% certain that the documents would be there, but check www.sedar.com or alternately, the information should be available on the Court's website.
It's in those documents somewhere, and also Milton mentioned it during the conference call to announce the Boeing order.