Air Canada raises $1.2bn, says it still wants Transat deal
Air Canada (AC,
Montréal Trudeau) has announced the closing of its previously announced fund-raising effort, hauling in nearly CAD1.6 billion Canadian dollars (USD1.19 billion) by selling shares and convertible debt to strengthen its cash flow, showing that investors are still willing to support aviation through the coronavirus crisis.
The company will use the proceeds to supplement its working capital and for other general corporate purposes, bolstering its cash position and “allowing for additional flexibility both from an operational standpoint and in the implementation of its planned mitigation and recovery measures in response to the Covid-19 pandemic,” it said in a statement on June 2.
https://www.ch-aviation.com/portal/n...s-transat-deal