BusinessBusiness RecoveryCanadian airline files for bankruptcy

Canadian airline files for bankruptcy

Air Canada, the largest Canadian airline, has filed for bankruptcy, but has promised that flights will continue.

Link: Canada 3000 files for bankruptcy

The company, which is the only Canadian airline with an extensive network of international flights, has fallen into trouble due to the post-11 September travel slump which has since been exacerbated by the health scare in Asia and war in Iraq. Air Canada is carrying debts of around £5.6bn.

The Canadian government is thought to be looking at ways to help the airline out of its crisis, which last month saw the company lay off 3,600 staff. The company has a fleet of 224 jets and flies to 150 destinations worldwide.

Canda’s second biggest airline Canda 3000 filed for bankruptcy soon after the 11 September attacks in 2001.

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