Air Canada provided the following comment on
the announcement today by Transport Minister David Collenette that the
Canadian Government will be providing aid to Canada 3000:
The Government`s decision to provide near term liquidity to one Canadian
carrier is evidence that Air Canada`s earlier request for an industry
stabilization package similar to that provided by the U.S. government is
necessary for the Canadian industry. In Air Canada`s case, the necessity is
particularly evident given the company`s extensive international and U.S.
transborder operations which account for 55 per cent of the company`s
revenues. Prior to September 11, Air Canada operated over 600 daily flights to
and from the United States.
We look forward to working with the Government of Canada on establishing
a stabilization package with comparable conditions so that Air Canada would
not find itself competing with a selectively subsidized Canadian industry, as
well as a massively subsidized U.S. industry.