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LH And UA Owns A Small Piece Of AC Since 2000  
User currently offlineAirCanada014 From Canada, joined Oct 2005, 1507 posts, RR: 0
Posted (8 years 6 months 1 week 6 days 7 hours ago) and read 2881 times:

Hello all

Please bare with me I'm new to this posting a forum although I have been here just reading so many posts.  Confused Do you remember way back in early fall of 2000 when Air Canada bought out Canadian Airlines International with the help of United Airlines, Lufthansa and CIBC.

Allow me to refresh your memory. It was the take over bid of Air Canada versus American Airlines with the help of Onex Corp. Air Canada wants to take over Canadian Airlines while Onex owns a piece of Canadian also wants to take a piece of Air Canada and merge those two airlines together and have Air Canada join Oneworld however Lufthansa and United don't want to lose Air Canada and the membership of the Star Alliance,so they decided to join up with CIBC and buy some piece of the new Air Canada which will take over Canadian. In the agreement Air Canada cannot leave Star Alliance before 2007 or else pay hefty fines. I knew once they would buy Air Canada that Air Canada will not leave the alliance after the agreement expires after 2007 which means Air Canada is free to go but still will have to pay the penalty if they decide to leave the alliance. Do you think LH and UA still owns a piece of Air Canada or did they sell their shares? Sorry to make this post too long.

Off the topic I want to say this since now I'm a new member Air Canada will be the first major and legacy carrier to offer IFE with Audio and Video on demand on all wide bodies and narrow bodies jets including the regional jets except for 50 seater CRJ bombardier.

5 replies: All unread, jump to last
 
User currently offlineJetmatt777 From United States of America, joined Jun 2005, 2725 posts, RR: 34
Reply 1, posted (8 years 6 months 1 week 6 days 7 hours ago) and read 2869 times:

Wow i ran into you in the Chat Room :by-the-way i didnt know that

Jetmatt777



No info
User currently offlineAC7E7 From Canada, joined Oct 2004, 641 posts, RR: 23
Reply 2, posted (8 years 6 months 1 week 5 days 14 hours ago) and read 2640 times:

I thought it was 2009 where they couldn't leave Star Alliance, but I could be wrong. As for their shares, they were issued preferred shares. I don't think they are owners anymore (old AC shares, common and prefereed were retired), however their investment was not for nothing as the alliance between AC and those two airlines brought in more money then they invested in AC.


Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
User currently offline9252fly From Canada, joined Sep 2005, 1381 posts, RR: 0
Reply 3, posted (8 years 6 months 1 week 5 days 14 hours ago) and read 2625 times:

I can see this tread turning into a great debate as to whether AC bought out CP,or was it a merger of the two carriers? On the surface,AC won the bidding war. The rest is history.

User currently offlineAirCanada014 From Canada, joined Oct 2005, 1507 posts, RR: 0
Reply 4, posted (8 years 6 months 1 week 5 days 6 hours ago) and read 2513 times:

I believe AC bought CP and merged them together. AC7E7 I think you are alright I think it was 2009 instead of 2007 I couldn't remember.

User currently offlineAC7E7 From Canada, joined Oct 2004, 641 posts, RR: 23
Reply 5, posted (8 years 6 months 1 week 5 days 5 hours ago) and read 2488 times:

Quoting 9252fly (Reply 3):
I can see this tread turning into a great debate as to whether AC bought out CP,or was it a merger of the two carriers? On the surface,AC won the bidding war. The rest is history.

Air Canada ended up purchasing Canadian Airline's parent company (which was Canadian Airlines Corporation - which used to be PWA), brought it through CCAA restructuring to reduce debt, then merged the carrier into Air Canada.



Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
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