Thousands of Canadian Airlines employees are feeling comfortable after a federal tribunal ruling that American Airlines can invest $246 million in Canadian Airlines. The National Trans potation Agency said that the proposed investment is not against the public interest. But the rival Air Canada which is left with a few options warns that it can cost 1,500 more jobs. Rhys Evton, PWA’s chairman and CEO told a Calgary news “We are very gratified that We have won a very major decision from a regulatory body, I Cannot be more gratified that I am today,” According to the deal, PWA retain 75% voting interest while AMR’s stake will be 25%. Canadian Airlines still has to go through several ordeals before betting a closer signal, Due to the bitten competition, both airlines lost more than $2 billion since 1990.
Article extracted from this publication >> June 4, 1993
