Air Canada Provides Comment on Announcement of Federal Government Aid to Canada 3000

25th Oct 2001

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.



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