Create or retrieve your password by clicking here

Air Canada Files for Bankruptcy

April 2, 2003

Air Canada Files for Bankruptcy
Canada’s largest airline, Air Canada, announced Tuesday it was filing for bankruptcy protection from creditors, looking for time to reorganize its business and negotiate with unions and the government.

According to, the airline will continue flying during the reorganization period. However, flights between Hong Kong and Canada will be reduced to nine per week and smaller reductions will be made in flights to destinations including Beijing and Shanghai.

Air Canada is the only extensive Canadian carrier with regular routes to the United States and other international destinations. The company finished 2002 with a total loss of 428 million Canadian dollars ($295 million).

For more on this story, visit

« »