InterCanadi>n Cancels ALL flights
Nov 28, 1999, 7:21 pm
#1
Original Member
Original Poster
Join Date: May 1998
Location: Calgary, Alberta, Canada
Posts: 1,652
InterCanadi>n Cancels ALL flights
Canadian partner InterCanadi>n has cancelled all flights system wide, and has told its employees to "clear out their lockers"
Info Available at http://www.newsworld.cbc.ca
What the heck is going on?
Info Available at http://www.newsworld.cbc.ca
What the heck is going on?
Nov 29, 1999, 4:19 am
#2
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Join Date: May 1998
Location: Vancouver, Canada
Posts: 6,222
No one seems to know for sure. A colleague of mine in Montreal feels it is an attempt by the airline regional partners to focus some attention on their plight, in the light of the Onex and AC proposals. Strictly speculation, but so far the only explanation I've heard, and not beyond the realm of possibility.
Nov 30, 1999, 3:11 am
#3
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Join Date: May 1998
Location: Vancouver, Canada
Posts: 6,222
Latest news reports are that CP has been subsidizing Inter-canadien quite heavily for some time, and also that I-c has not been making it's payments to CP for the purchase of the regional carrier. On Friday, CP decided to stop advancing cash ($20-40 million, apparently) and I-c either retaliated, or couldn't afford to keep flying. Details are still sketchy, and there is some argument about the truth of the situation.